Interest only

Looking for Interest-only?

Read our handy guide and let us arrange your mortgage over the phone

Interest only

Looking for Interest-only?

Read our handy guide and let us arrange your mortgage over the phone

What is Interest-only?

With an Interest-only mortgage you pay back just the interest charged on the amount you’ve borrowed each month, but none of the original amount you borrowed, so the amount you owe doesn’t reduce.

This means that your monthly payments are lower than they would be on a repayment mortgage. However you'll need to repay the amount you borrowed (the capital) at the end of the term, so you'll need a suitable repayment plan.

Things you need to know

You must

  • be able to afford an equivalent repayment mortgage
  • own at least £300,000 equity in the property
  • borrow no more than 50% of its value

You’ll also need to show us a proper repayment plan.

Get in touch

0800 121 6263

Or for more information before you call visit our Interest-only help page

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Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.

 

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Call us

Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.

 

Call us on

0800 121 8899

Call us