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Interest Only Mortgages

An Interest Only mortgage is an effective means of lowering your monthly payment by removing from it the capital element that you would contribute towards on a Repayment mortgage. It is important to remember that unless you make any overpayments of capital during the term of an Interest Only mortgage, the full balance will remain on in its expiry and you will need to have an available means of repaying this to the lender.

 

When recommending an Interest Only mortgage we will take the time to understand your objectives before aligning these with the criteria of suitable lenders. Some lenders require a minimum level of income to qualify, irrespective of the loan size, whilst all will require a recognised repayment vehicle to repay the borrowing at the end of the term. 

Acceptable repayment vehicles for Interest Only mortgages

Accepted methods of repaying an Interest Only mortgage vary between lenders. Whilst some lenders will accept an intention to downsize from your property in the future, others will require repayment by another means. 

 

The other strategies that a lender may use are investments, savings, a pension lump sum and the sale of an additionally owned property. 

 

Get in touch to find out more about your choices, and how we can help you fulfill your Interest Only requirements.

I cannot praise Mike Newman enough for the superb service he provided in arranging our mortgage. I'd have absolutely no reservations about recommending his services. Thanks, Mike!

M.F & S.F Cardiff

First class service. Mike Newman is extremely good at his job, knows his products that best suit your needs, responds really quickly to your messages, great to speak to on the phone.

J.M Penzance

Mike was amazing! After being let down by my own bank, Mike sorted everything. The whole process went along without any problems at all. He was always on hand if ever I needed to ask anything and he kept in touch with me along the way! Absolute 5* service!

K.P Birmingham

A first rate, professional service. We were very impressed with Mike. He kept us fully informed at each stage of the process, answering our queries and making what some consider a complicated and stressful time absolutely painless.

P.R & S.R Fareham

Outstanding service. Mike was extremely polite, helpful and knowledgeable. Always kept in contact and replied to emails returned calls quick and efficiently. More than happy with the service.

A.P Birchington

We are so pleased that we decided to choose this company for finding a new mortgage. Communication and their patience at answering our queries was excellent. We will not hesitate to use Creative in the future.

G.R & R.R Norfolk

Absolutely excellent, from beginning to end I couldn't fault Mike and Natalie. On time, responsive, proactive and accurate. Also the respect and understanding they demonstrated was unexpected in this world today.

S.O & N.O Lyme Regis

Cut through the complexities of finding an Interest Only mortgage

We’ll search the market to find the best fit for you. Fill out our short form and we’ll be in touch to explore your options.

Interest Only help from Creative Lending Solutions

Creative Lending Solutions can help by sourcing an appropriate Interest Only lender for your circumstances, ensuring that their particular criteria requirements are met. 


By understanding the unique requirements of one lender over another this better helps us recommend the most appropriate option to you; whether this is simply to obtain a more favourable deal, to raise additional borrowing or to make other changes to your mortgage arrangements.


If you decide to proceed with our recommended option, we will be on hand at every step of the new mortgage process. We will complete the lender’s application form and forward them your supporting documentation. We will respond to the lender’s underwriter with answers to any questions they may have and to offer assurances where they may be required. Once your new mortgage offer has been issued, we will remain available for any questions you may have and for any changes that may be needed up until completion.

More great reasons to get in touch

  • Friendly, professional & convenient
  • Over 20 years’ industry experience
  • We value our customers
  • Same day pre-approvals
  • Full support provided
  • Jargon-free
  • Fast communication
  • Available weekdays until 7pm
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Your home may be repossessed if you do not keep up repayments on your mortgage.