Interest only mortgages have become a viable and attractive option for more of our clients. The monthly payments for interest only products cover the cost of the interest rate charged, not the outstanding capital balance.
At LDNfinance, our residential property finance advisers work with our clients to assess their options for an interest only mortgage, whilst making them fully aware of the associated risks. In some cases, interest only can offer a greater deal of flexibility.
The Mortgage Market Review (MMR) has given lenders greater clarity and flexibility to increase the availability of interest only products, providing there is an accepted and reasonable basis for repayment of the loan by the end of the payment term.
Our advisers have access to a comprehensive network of private banks and other specialist lenders. This ensures our HNW clients are achieving the most appropriate borrowing levels and repayment terms. To ensure we have explored every avenue on your behalf, we also have access to high street banks and lenders, too.
We act as your trusted partner, providing only the most personal service to make sure you feel in control and confident throughout every stage of your property investment journey. By taking the time to understand your needs and the deal in question, our one-on-one tailored service allows us to work relentlessly on your side to both exceed your expectations of what you can achieve and secure a solution to best suit your circumstances.
Understanding the benefits of interest only mortgages
Our expert property finance professionals have extensive knowledge of the UK financial market. Your dedicated adviser will explore all of the options available to you, including the option of interest only, particularly if your personal and financial circumstances meet any of the following criteria:
- Receive large bonus payments
- Own other assets which could be used to repay interest only
- Have the intention to downsize in the future
- Have the ability to repay an interest only by other means
- Classed as a High Net Worth Individual (HNWI)
- Operate on a self-employed basis
- Classed as an older borrower
Your independent and impartial LDNfinance adviser will explain the pros and cons of an interest only mortgage to you and will explain everything in plain English. We may recommend interest only to you if your repayment plans and strategy are sufficient enough to repay the outstanding balance at the end of the term, and you can afford the monthly repayments.
Over the years, our expert team has developed trusted relationships with influential UK property market lenders and banks. Your dedicated adviser will have impeccable knowledge of the rates, charges, and lending criteria imposed by specialist and private large loan lenders to help secure the right interest only deal for you.
Working with a specialist high net worth mortgage broker such as LDNfinance is imperative to ensure you have access to lenders that can cater to your individual needs at a competitive rate. Whether you are looking to borrow on an interest only basis, or need to secure borrowing at a high loan to value (LTV), you can trust our appointed representatives to navigate the complex circumstances of your case efficiently and at speed.
Let’s discuss your financial position and arrange an interest only mortgage that reduces your repayments in the short term.