Tag: Interest only
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Case Study: Helping a Home Mover in Petersfield
Introduction We recently helped our customer arrange an interest-only mortgage to purchase a property in Petersfield, Hampshire, following a divorce. Our customer wanted to purchase a new main residence using funds from being bought out of their previous home, alongside personal savings. However, ongoing divorce settlement negotiations meant that some of the deposit funds and… Read more
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Mortgage Options at the End of an Interest Only Term
What to Do When Your Interest Only Mortgage Ends If you’re approaching the end of your interest only mortgage term, you might be feeling a little uncertain about what comes next. You’ve spent years paying off just the interest which would have saved you money monthly, but now the original loan amount is due. For… Read more
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First Time Buyer Interest Only Mortgages
Can First-Time Buyers Get an Interest-Only Mortgage? Yes, it is possible to get an interest-only mortgage as a first-time buyer in the UK, although fewer lenders offer this option compared with standard repayment mortgages. Some lenders accept first-time buyers on an interest-only basis, subject to their income, deposit, affordability and repayment strategy requirements. Others do… Read more