Your Circumstances
Interest Only Mortgages
For Interest only mortgages, a lender agrees to loan an amount of money to a borrower over a fixed period.
With an interest-only mortgage you only pay the interest each month. The actual amount borrowed doesn’t reduce during the life of the mortgage and the full amount
of the loan remains outstanding to be repaid at the end of the mortgage term.
Your monthly payments are therefore less than with a repayment mortgage, but you will need to ensure that you have the money available at the end of the term to repay the loan. If you are relying on the returns of an investment plan to repay the loan, you should ensure that the terms of both the mortgage and the investment are sufficient to allow the investment to build up adequate funds to repay the loan at the end of its term.
Some lenders will ask for details of this investment plan however policies are not generally assigned these days. It is however your responsibility to ensure you have made sufficient provisions to repay your mortgage by the end of the term.
Its your choice
“We do not usually charge a fee for mortgage advice. However you do have the option to pay a fee of eg: 1.5% of the loan value and then you would receive any commission payable by the lender."
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage Products
Our Testimonials
See what our customers have to say about us...
"Thank you for getting me onto the housing ladder. I never thought it would happen."
Pauline N.
"I just want to say a big “thank you” for all your help and assistance. You really took a lot of the stress and hassle off me by sorting out my mortgage and insurance."
Antanette.
"Many thanks Julie for your help in arranging my mortgage. When the bank told me that lack of proof of income left me no chance, I didn’t think I’d be able to buy my house. I can’t thank you enough for the friendly and efficient way you handled everything."
Steve M.