Interest Only Mortgage Deals
When you take out an interest only mortgage, you won’t pay traditional mortgage payments each month. Instead, you’ll only repay the interest that is due. At the end of the mortgage term, you’ll be expected to pay the property’s value in full.
This means you’ll need to make other arrangements to ensure you can afford to pay back the capital that you’ll owe. This is often described by mortgage lenders as setting up a separate ‘repayment vehicle’ and it may involve growing your wealth in stocks, bonds, shares or other properties.
Everything you
need to know…
What are the benefits of interest only mortgages?
An interest only mortgage can be a great way of keeping your mortgage payments low while freeing up more of your income to be placed in investments.
Are interest only mortgage deals risky?
Taking out an interest only mortgage can be a little risky because there’s no guarantee that you’ll be able to grow your investments’ value enough to cover the mortgage in full at the end of the term. If you find that you’re unable to pay the mortgage at the end of the term, some lenders will extend your mortgage term to give you more time to find alternative funding. However, this may incur extra charges.
Thinking of remortgaging?
Remortgaging allows you to switch provider or mortgage products to save you money and to suit the changing requirements of your lifestyle.
Before remortgaging, or before you decide to remortgage with your existing provider, it is essential to speak with an independent mortgage expert.
Mortgage
types
Mortgage Calculators
Our online mortgage calculators have been designed to help you with the most common mortgage questions such as ‘how much can I borrow?’ and ‘how much will it cost?’
To get a more accurate idea we recommend that you speak to one of our expert mortgage advisers.
Why choose
us?
What's your
situation?
Thinking of remortgaging?
Before remortgaging, or before you decide to remortgage with your existing provider, it is important to speak with an independent mortgage expert.
Talk to the experts
With access to the entire mortgage market, the team at TaylorMade can help you find the most suitable mortgage product for your situation.
Whether you’re a first time buyer, a self employed small business owner or a buy-to-let investor, our mortgage experts can help you get a great deal.
To learn more about our service, please get in touch with one of our expert advisers.
Talk to us
If you're unsure and need some advice just give us a call, our expert team of advisers are available to help you choose the mortgage that is right for you.
TaylorMade Finance Ltd is authorised and regulated by the Financial Conduct Authority.
Complaints:
In the event that you wish to complain, you can contact us by email, telephone or letter.
Our address for this is:
Complaints Officer, TaylorMade Finance Ltd, 4 Church Road, Urmston, Manchester, M41 9BU. Our email address is info@taylormade-finance.co.uk and our telephone number is 0161 776 1089. We will then investigate the issues raised and inform you of our findings. Should you be unhappy with the resolution to your complaint you may contact the Financial Ombudsman Service, who can be contacted at the following address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR.
Email: complaint.info@financial-ombudsman.org.uk
Phone: 0800 0234 567
https://www.financial-ombudsman.org.uk/
Your mortgage will be secured against your property.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Our fee for this service is 1.95% of the mortgage balance (minimum £1,295 to a maximum of £2,995 although reduced to maximum £1,995 without debt consolidation). Typically this will be £1,995.