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Interest only Mortgage
denwisey
Posts: 3 Newbie
I am about to purchase at £205,000.00 and putting down 25%
I have been toying with the idea of getting an Interest only Mortgage but not sure. Can anyone suggest what they think is the best options out there.
I have been toying with the idea of getting an Interest only Mortgage but not sure. Can anyone suggest what they think is the best options out there.
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Comments
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You'll find that a lot of lenders will not allow a pure interest only mortgage at the moment. They will expect to see some sort of repayment vehicle ( endowment/ISA/ pension etc) put in place.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Thanks.
I did find that out with the Nationwide who were not helping their own cause and seem to want to tie you up in paperwork. I have the necessary Insurances in place but have not bought for a while and just unsure of the best bet. I know it is a gamble on the rates etc. and obviously there is whether to go fixed or tracker. I am swaying towards fixed 3 years?0
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