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Compare Interest Only Mortgage Rates. Deals from leading UK lenders including mortgages for over 65s. Use our enquiry form below if you require advice on your options. Some lenders allow you to borrow up to age 90 on an interest only basis.

This makes our LTV . Invalid LTV.

Call NatWest 0800 096 7889
NatWest logo
Fixed Aug-2023 From NatWest
Initial rate 1.15% Aug-2023
Maximum LTV 60%
Overall cost of comparison 3.3% APRC
See deal
Featured Deal
Interest Only Option & No Valuation Fee.
Call NatWest 0800 096 7889
NatWest logo
Fixed Aug-2026 From NatWest
Initial rate 1.29% Aug-2026
Maximum LTV 60%
Overall cost of comparison 2.8% APRC
See deal
Call Virgin Money 0330 057 1528
Virgin Money logo
Fixed Aug-2026 From Virgin Money
Initial rate 1.29% Aug-2026
Maximum LTV 65%
Overall cost of comparison 3.1% APRC
See deal
Call Virgin Money 0330 057 1528
Virgin Money logo
Fixed Aug-2026 From Virgin Money
Initial rate 1.35% Aug-2026
Maximum LTV 65%
Overall cost of comparison 3.1% APRC
See deal
Progressive BS logo
Discount 2 years From Progressive BS
Initial rate 1.49% 2 years
Maximum LTV 60%
Overall cost of comparison 3.88% 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.

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.

Latest interest only mortgage offers:

RBS Mortgages

2 Year Fixed - Interest Only Deal

  • Initial Rate - 1.21% APR
  • 60% Loan To Value (LTV)
  • Free standard valuation

Overall cost for comparison 3.9% APRC

Call RBS FREE on 0800 096 7966


Arrange a FREE callback or apply online with Royal Bank of Scotland

Post Office Mortgage Offers

FREE Valuation Offer - Post Office offer a great range of interest only mortgage offers - Click here

How much can I borrow

New rules introduced to the mortgage lending market have altered the way in which lenders review mortgage applications.

The focus of lenders application process will be affordability. The requirements for a mortgage application will vary from lender to lender; however, they will typically require information regarding:

  • Your employment
  • Your income
  • Your monthly outgoings

Find out what you could borrow with the mortgage table above.

How to calculate mortgage repayments

How much you will have to pay each month is a significant factor when deciding which mortgage to take out.

Complete our mortgage calculator to find the best mortgage and find out how much you will pay each month.

Input the purpose of your mortgage, the value of the property, the amount you wish to borrow, the type of mortgage you want (either capital and interest or interest only mortgage) and the length of mortgage, and the mortgage calculator will produce a list of the best mortgages for you.  

What is a fixed rate mortgage

Fixed rate mortgages are those that have a set interest rate for an agreed period of time. Typically, you can take out a fixed rate mortgage for 2,3,5, or 10 years.

It may seem like a good idea to secure an interest rate for a long period of time; however, it is impossible to know exactly how interest rates will change in the next few years. This means that an attractive interest rate now may not look so good in a few years’ time.

The Post Office offer a fixed rate mortgage with competitive interest rates and a variety of loan to value options. Click here to view their latest deals.

What is a tracker rate mortgage

A large number of banks offer tracker rate mortgages. These mortgages have interest rates that are heavily dependent on the Bank of England’s base rate. Therefore, if the Bank of England’s base rate increases so does the tracker mortgages’ interest rates.

Repayment or interest only

If you want to pay off both the capital and the interest of a mortgage at the same time, then you might want to take out a repayment mortgage. Although the monthly payments are generally higher, repayment mortgages allow you to completely own the property once the term has finished.

Interest only mortgages only require you to pay the interest of the mortgage each month. As a result, the monthly payments are much smaller than other mortgages.  Unlike repayment mortgages, interest only mortgage do not enable you to own the property at the end of the term.

Making overpayments

Making overpayments may be a good way of paying off your mortgage quickly. However, if you want to make regular overpayments, you should check with your mortgage provider; some banks will charge early repayment charges to those who make overpayments.

If you want to explore your mortgage options, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice.

Latest news

Mortgage Rates Set To Fall - Is It A Good Time To Remortgage?

In response to the coronavirus outbreak in the UK, the Bank of England has dramatically cut their base rate from 0.75% to 0.1% which is considered to be an emergency measure to help support the economy through the financial disruption caused by the spread of the Covid-19 virus. How will this move impact your mortgage...

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