Most borrowers taking capital repayment mortgages

Aaron Strutt Image
Nearly all first-time buyers currently take out repayment mortgages, 98% in April, unchanged from March, according to the Council of Mortgage Lenders (CML). The proportion of home movers and those remortgaging taking a capital repayment mortgage has continued to increase with around 85% of home movers and 82% of remortgagors taking out full capital repayment mortgages. There are a host of mortgage lenders still offering interest-only deals providing you can prove how the loan will be repaid. Aaron Strutt, a broker at Trinity Financial, says: "If you have at least £150,000 equity in your home and you do not want to borrow more than 66% of the property value, we have access to a mortgage lender that allows the sale of the property to be used as a repayment vehicle." For more details call us 020 7016 0790 June 15, 2012
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