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Repayment Plan on Interest only mortgage
simfid
Posts: 1 Newbie
Hi
HSBC seem to be saying that it no longer accepts a pension linked repayment plan as acceptable for an interest only mortgage.
I have a civil service pension that based on a tax free lump sum accrued today of £100k would repay around 50% of the amount I intend to borrow based on a 60% LTV mortgage (ie I'm putting a deposit of some £130k).
Is this now common across the board or are others more amenable to pension linked repayment plans?
S
HSBC seem to be saying that it no longer accepts a pension linked repayment plan as acceptable for an interest only mortgage.
I have a civil service pension that based on a tax free lump sum accrued today of £100k would repay around 50% of the amount I intend to borrow based on a 60% LTV mortgage (ie I'm putting a deposit of some £130k).
Is this now common across the board or are others more amenable to pension linked repayment plans?
S
0
Comments
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In general more a question in the availability of interest only mortgages in the marketplace. In 2013 so far over 96% of new mortgages have been made on a repayment basis.0
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