We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Which mortgage lenders offer 'Interest Only'?

Hi-

I'm interested in taking out an interest only mortgage when I buy a property.

I've had a look at the major mortgage lender websites (Halifax, Natwest, A+L etc) but I can't seen to find interest rates for 'interest only' mortgages. Does this mean that they do not offer 'interest only' mortgages or are 'interest only' mortgages only available at the lender's standard variable rate?

Thanks

Ike

Comments

  • kingkano
    kingkano Posts: 1,977 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Interest rates arent dependant on the 'deal' you choose. What I mean is you can have a fixed, variable, tracker, whatever you like. Then independantly you decide if you want repayment, interest only or part and part.

    Basically every lender will offer every mortgage deal on interest only (except in rare cases like extended borrowing).

    HTH
  • dunstonh
    dunstonh Posts: 121,246 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    virtually all lenders offer interest only. Some will require you to prove your ability to repay it later on. i.e. via a pension, ISA or other asset.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.2K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.9K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.