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Can I still get an interest only mortgage?
kellyellenh
Posts: 19 Forumite
I need to increase my interest only mortgage by a fair amount in order to move. Thing is, I need about 85% LTV but really want to stay on interest only. Are there any lenders out there who would do this? We have a good credit history.
Many thanks for any advice
Many thanks for any advice
0
Comments
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If, and only if, you have an established suitable repayment vehicle (and only a handul of lenders will go to that LTV).Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Why do you need an interest only mortgage?
What plans do you have to repay the debt?
Why haven't you got a repayment mortgage at present?
(A cynical mortgage underwriter may take the view that having / wanting an interest only mortgage implies an inability to afford the proper mortgage payments. All mortgage lender's are under close scrutiny for interest only lending and are highly unlikely to set up any new mortgage on an interest only basis without a repayment vehicle in place).0
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