Interest-only mortgages still available

Aaron Strutt Image

Many of the largest banks and building societies have tightened their interest-only qualification criteria and it is harder for many borrowers to qualify without a 50% deposit.  However, if you have a valid plan for repaying your mortgage then there are a number of good options available.

The Nottingham Building Society offers interest-only providing you have a 20% deposit and Virgin Money can lend if you have a 25% deposit.

Aaron Strutt, a broker at Trinity Financial, says: “When applying for a mortgage, one of the first things the lender will want to know is how you will repay the mortgage.  An acceptable plan will typically include investments or an ISA. They may also accept the sale of an investment property.”

March 30, 2012

Get Started

Get started today

Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.

Google Reviews
Trustpilot
Book a Consultation Talk to an Expert
As seen in
Sunday Times Telegraph Financial Times BBC News The Express The Times