interest only availability?

nicke20

Im trying to avoid using a broker (yes i'm trying to save money)
Id like to find a lender who will lend at least £125k on a house costing £375k interest only, single wage £28k perfect credit history no debts
anybody done this recently?
i dont want to have to walk into lender after lender asking the question!

thanks in advance
Nick

GMS

You MAY find a broker who wouldn't charge you.

Given that you have no idea of where to go with this surely a broker who could help your situation would be beneficial?

nicke20

you are probably right, I failed to mention being an olddie (48)
id only be after an 18 year term.. ill have a good look through this forum tonight and see if there is any advice on finding a reputable local broker
thank you for your speedy reply

GMS

Why do you want interest only? What would be the plan to repay the capital?

nicke20

bit of a complex plan to repay,
I have two pension pots currently about £250k and obviously 18 years more growth to go so plan "A" is to use my tax free lump sum
Plan "B" my new partner has a small semi that she plans on keeping as a rental incom currently worth £150k on a £70k mortgage so there is a possible payment method from selling that
Plan "C" with a motgage of under 33% of current house value, im confident that in 18 years if i had to i could downsize and pay the lump sum
ofcourse i can use a mixture of all three methods
why interest only?
id like the ability for a while not to have the millstone of a large repayment mortgage and have enough spare cash to enjoy myself and not have to live like a hermit. I have been mortgage free for 8 years so its going to be quite a change to my circumstances!

Wh05apk

You should have no trouble finding a lender, I know as a broker, I wouldn't!