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Interest Only mortgages
starM
Posts: 1,464 Forumite
Hi,
Do banks still do interest only mortgages with an option to make additional payments?
Thanks
Do banks still do interest only mortgages with an option to make additional payments?
Thanks
0
Comments
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I have an interest only mortgage with Santander and I can overpay 10 per cent each year.0
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If you mean interest only without an investment vehicle to cover the capital there are few options.
Options in the current market that allow downsizing/sale as a repayment vehicle require minimum equity of £150,000 and more (and 50%), also minimum income of £50,000 and more.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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