Interest only Residential Mortgage

Residential mortgage independent of interest rates

Note that this only applies to construction financing. Only interest rate mortgages A pure interest mortgage means that you only need to cover the interest component of a mortgage for your payments each month. As a result, you have to make a flat-rate payment for the equity component at the end of the validity period. If you want to reimburse this flat-rate amount at the end of the loan period, you must be able to prove an appropriate redemption policy when you request an interest only mortgage.

Reimbursement policies include: real estate reduction, is accepted on select mortgage types if the entire mortgage consists only of interest and the mortgage is to be paid back before the 70th year of life (before the 80th year of life through mortgage intermediaries). If the interest rate does not top 75% LTV and the maturity is not extended until you retire, you can also divide your mortgage into a partial principal payment and a partial interest payment on up to 90% LTV borrowings.

Below you will find our latest mortgage lending product, available only on an interest base. An £92,000 mortgage due over 29 years first at a floating interest rates, currently 2. 49% for 2 years and then at our prevailing floating interest rates of 5. A 59% share for the 27 years to come would mean 23 months of £372.

Twenty and 324 months' payouts of £526. Four plus an upfront interest of £43.93. £49, comprising the amount of the principal plus interest and charges totaling £87,970.49. The starting interest is the interest available during the first life of the mortgage. At the end of the original interest period, the mortgage returns to our variable standard interest rates (SVR).

The SVR is fixed by us and currently stands at 5.59%, as a floating interest it can go up or down. Like all other mortgage providers, we allow you to lend against part of the total value of the real estate. Described as Loan to Value (LTV), this is stated as a percent.

If, for example, you want to buy a £100,000 home and you want to rent £85,000, you need a mortgage that is available at 85% Loan to Value (LTV). LTV available may differ according to the mortgage you have. Under LTV, co-ownership mortgage loans provide two percentage rates - the portion of the land value and the portion of the interest to be acquired.

Mehr zum Thema