Mortgages
Interest only mortgage advice
With an interest-only mortgage, your repayments each month only cover the interest charged on the whole loan amount.
Our Interest Only Mortgage Advice
With an interest-only mortgage, your repayments each month only cover the interest charged on the whole loan amount. This means that the mortgage loan itself does not reduce.
Interest only mortgages usually have lower monthly payments compared to repayment mortgages, which can give borrowers more control over their finances.
Interest-only mortgages require a repayment vehicle.
To obtain an interest only mortgage using sale of the mortgaged property as a repayment vehicle, typically £250,000 equity in the property is needed at the end of the mortgage term.
Maximum loan to value for an interest only mortgage is 85% LTV.
Lending over 50% LTV must be on a capital and interest basis.
Maximum mortgage term of 25 years.
The full mortgage amount is due at the end of the term.
No interest only lending beyond the age of 70 based on employed or self-employed earnings.
Your home may be repossessed if you do not keep up repayments on your mortgage
Genius Mortgage Advice
Why choose us?
We take the time to understand your requirements, find a way forward whatever the circumstances, and then stay the course until your mortgage is offered, and the transaction has completed.
We want to develop relationships with borrowers that last as long as your mortgage term, and are as wide as to include family and friends.