Interest Only - Best Buys
An Interest Only Mortgage is one whereby your monthly payments consist solely of interest payment and not any capital repayment element. Therefore, with an Interest Only Mortgage, the amount you pay per month is lower than an equivalent capital and interest repayment mortgage, BUT the balance of your mortgage will remain the same, and will not be reduced by your monthly payments. i.e. if you borrow £100,000 and pay interest only over 25 years, you will still owe £100,000 after 25 years of payments.
Please contact us for details on the rates available for this type of mortgage.
- Telephone: 01443 209 436
- Fax: 01443 841 723
- Address: Suite 7, Greenword Drive, Llantwit Fardre, Nr. Cardiff, CF38 2LJ
- info@mortagefinancial.co.uk
