any decent 'interest only' mortgages available for 90% LTV?

adwardo

Hi,

I'm looking to borrow 500,000 with a 50k deposit - Interest only.

I have had a look at my Bank's website and they have pretty poor rates for this scenario - such as 6.89%.

All of their good rates, such as 2.89%, are only available for 20% deposits. And most of their 'interest only' deals are only available if you have 25% plus.

Anyone got any advice on where to look for better deals than this? I'd be interested in speaking to a broker if anyone could recommend a good one.

Thanks in advance

theartfullodger

Troll???

If you are real, the answer is staring you in the face...

- either get a lower LTV (eg 70%) by either putting up more deposit (say £150k)
- or buy somewhere cheaper (eg £166.7k with deposit of £50k).

Cheers!

Lodger

iamana1ias

adwardo wrote: »

Hi,

I'm looking to borrow 500,000 with a 50k deposit - Interest only.

I have had a look at my Bank's website and they have pretty poor rates for this scenario - such as 6.89%.

All of their good rates, such as 2.89%, are only available for 20% deposits. And most of their 'interest only' deals are only available if you have 25% plus.

Anyone got any advice on where to look for better deals than this? I'd be interested in speaking to a broker if anyone could recommend a good one.

Thanks in advance

£50k would be a 9% deposit on a property of £550,000

You don't look like a very good risk, but you do look like a troll

BeachLover_2

what's a troll??!!?? sorry I'm blonde! ;-)

opinions4u

BeachLover wrote: »

what's a troll??!!?? sorry I'm blonde! ;-)

Do you have a picture?

Err, Wiki answers your question well.

In Internet slang, a troll is someone who posts controversial, inflammatory, extraneous, or off-topic messages in an online community, such as an online discussion forum, chat room or blog, with the primary intent of provoking other users into an emotional response or of otherwise disrupting normal on-topic discussion.

poppy10_2

BeachLover wrote: »

what's a troll??!!?? sorry I'm blonde! ;-)

A wind-up merchant, someone who deliberately posts made-up ridiculous or controversial posts in order to get a reaction

_Andy_

How are you intending to repay the capital?

biglugs

The OP is either a troll or has troll-like intellect! No lender is going to give you a half million pound interest only mortgage at 90% LTV in the current market! Gave us all a laugh though.

Wutang_2

I thought a troll was like a little man with a hat on?

stivy

I think you mean a gnome.

I breaks it down to the bone gristle :rolleyes:

stivy

That's a gnome.

I breaks it down to the bone gristle.