Interest only

Interest only mortgages are sometimes known as endowment mortgages or even pension mortgages. An interest only mortgage is where the lender only charges you interest on the loan you’ve agreed; capital is usually only paid at the end of the mortgage. Lenders will usually ask you at the outset, to provide an investment plan of one type or another to repay the loan at the end of the term, such as an endowment policy or ISA savings plan; sometimes they will leave the repayment plan entirely up to you.

Your home may be repossessed if you fail to keep up the repayments on your mortgage.

Why not contact us for a more detailed analysis of your requirements.