Santander introduces new interest-only mortgage declaration
Santander for Intermediaries has introduced a new declaration for customers to sign in order to qualify for an interest-only mortgage.
Santander has explained the form is designed to confirm applicants are aware of the implications of using the Sale of the Property as a mortgage repayment vehicle.
Aaron Strutt, product manager at Trinity Financial, says: “The lender has one of the most generous interest-only mortgage policies in the market and the new form has been introduced as part of the stricter compliance regime.
“At the moment, the lender offers some borrowers strait forward interest-only up to 50% loan-to-value. Although, they also offer part interest and capital repayment mortgages up to 75% loan-to-value.”
If you would like help to secure an interest-only mortgage, call Trinity Financial on 020 7016 0790.
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