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Looking for an interest only mortgage?

Post Office Mortgage CashbackGet £500 Cashback -  Available to home movers and first time buyers. Exclusions apply. More info...»

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Call NatWest 0800 068 8567
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Fixed Jun-2021 From NatWest
Initial rate 1.50% Jun-2021
Maximum LTV 60%
Overall cost of comparison 4% APRC
See deal
£250 Cashback
£250 Cashback Offer. 90% maximum loan to value. Interest Only Option
Call Virgin Money 0330 057 1528
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Fixed May-2022 From Virgin Money
Initial rate 1.93% May-2022
Maximum LTV 65%
Overall cost of comparison 4.2% APRC
See deal
£300 Cashback
Interest Only Mortgage. Cashback. Low Valuation Fee

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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Mortgage Quotes & Advice

Our independent mortgage service provides:

  • FREE initial mortgage consultation
  • Access to exclusive mortgage deals not available on the high street
  • A dedicated mortgage adviser and case handler to deal with your mortgage from enquiry to completion

"Our mortgage team is committed to providing you with an excellent mortgage service". Adam Arnott, Head of Mortgages & Protection.

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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.

This comparison simply includes all mortgage services

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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 up to age 80

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

Post Office through their Retirement Link Mortgage » provide an interest only mortgage option which allows you to borrow on an interest only basis up to age 80.

This could be right for you if you are looking for a good alternative to equity release or you are looking to home improvements or raise funds for something special e.g. a child's wedding or first home deposit.

You can borrow up to 30% of the value of your property and your property must be worth at least £250,000 to qualify. Click here for more details »>

Independent advice

If you are not sure whether now is the right time to remortgage or whether you can get an interest only deal, then we can put you in touch with an independent mortgage broker who will compare Santander with the rest of the market providing impartial advice.

Latest news

Cost of fixed rate mortgages have started to increase as Bank of England rate rise looms

A number of high street banks have started to increase their mortgage rates. The reason for this is that banks are having to pay more to access the funds they lend out to UK homeowners.

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