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Compare Halifax Interest Only Mortgages

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Halifax logo
3.33% Fixed to 30/09/2024 From Halifax
Initial rate 3.33%
Monthly cost £416 for 26 months
Overall cost 4.5% APRC
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Halifax logo
3.33% Fixed to 31/08/2024 From Halifax
Initial rate 3.33%
Monthly cost £416 for 25 months
Overall cost 4.5% APRC
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Halifax logo
3.39% Fixed to 31/08/2027 From Halifax
Initial rate 3.39%
Monthly cost £424 for 61 months
Overall cost 4.3% APRC
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Halifax logo
3.39% Fixed to 30/09/2027 From Halifax
Initial rate 3.39%
Monthly cost £424 for 62 months
Overall cost 4.3% APRC
See deal
Halifax logo
3.46% Fixed to 30/09/2027 From Halifax
Initial rate 3.46%
Monthly cost £433 for 62 months
Overall cost 4.3% APRC
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Halifax logo
3.51% Fixed to 31/08/2027 From Halifax
Initial rate 3.51%
Monthly cost £439 for 61 months
Overall cost 4.3% APRC
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Halifax logo
3.53% Fixed to 30/09/2024 From Halifax
Initial rate 3.53%
Monthly cost £441 for 26 months
Overall cost 4.5% APRC
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Halifax logo
3.57% Fixed to 30/09/2024 From Halifax
Initial rate 3.57%
Monthly cost £446 for 26 months
Overall cost 4.5% APRC
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Halifax logo
3.59% Fixed to 31/08/2032 From Halifax
Initial rate 3.59%
Monthly cost £449 for 121 months
Overall cost 4.2% APRC
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Halifax logo
3.62% Fixed to 31/08/2024 From Halifax
Initial rate 3.62%
Monthly cost £453 for 25 months
Overall cost 4.5% APRC
See deal

Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

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Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

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Compare Interest Only Mortgage Quotes!

We are 100% independent. Find the best interest only mortgage rates from UK lenders...

Mortgages Direct provides an independent mortgage quotes and advice service. When you submit this form you will be contacted by a regulated mortgage adviser to discuss your options.

What is an interest only mortgage?

Interest only mortgages are those that only oblige you to pay the interest of the mortgage each month, and pay the entire capital of the mortgage at the end of the mortgage term. They have some of the lowest mortgage repayments on the market.

Although the size of the mortgage payments is often small, the interest rates on interest only mortgages are often high.

Also, it should be noted that interest only mortgages expose you to a greater risk of negative equity. This is because the mortgage payments do not go towards repaying the capital of the mortgage.

You can access an interest only mortgage through Halifax. You can view all the available interest only mortgage deals through our Halifax. interest only mortgage calculator at the top of the page.

Why do people Choose an interest only mortgage?

The main reason is to keep monthly costs to a minimum. 

1. Has your initial mortgage deal come to an end?

By switching to a better deal with a different mortgage provider, an interest only mortgage could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.

2. Are you looking to raise money?

By remortgaging you may be able to releasing equity in your home.

People often remortgage to provide money for:

  • Home improvements
  • New Kitchen
  • New En-suite bathroom
  • Consolidate other existing debts.

3. Borrowing in retirement interest only

Free up funds from your home so you can live the life you want to.

A number of lenders provide interest only mortgage options which allows you to borrow on an interest only basis after retirement.


Independent Mortgage Advice

Remortgaging is particularly popular at the moment as interest rates are low.

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Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.

However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.

If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).

If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice on Halifax & alternative lender options.

Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Latest news

Mortgage Rates Set To Rise - Is 2022 A Good Time To Remortgage?

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