Interest Only Mortgages

Interest Only Mortgages

With the credit crunch came a crackdown on interest only lending, as research showed that many did not have a suitable repayment vehicle in place to repay their borrowing at the end of the term.

Many comparison sites suggest that interest only is readily available, and it is if you fit the criteria of the bank in question.

Interest only does have a place and can make sense in some instances. Most require you to have a suitable repayment vehicle in place to repay the borrowing in full at the time of application, however some banks will consider lump sum reductions in capital and even downsizing as a repayment vehicle, if this is plausible.

If you would like to find out if you qualify please get in touch.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. 

Mortgages

Mortgages by Wooton & Bean

We will discuss circumstances including such areas as your income, outgoings, future plans and savings to quickly establish what is possible.

Insurance

Our experts can review your insurance needs provide you with a tailored recommendation to suit your circumstances. 

Specialist Lending

Specialist Lending Services from Wooton & Bean

Wooton & Bean Specialist Lending Solutions offer a range of commercial and specialist lending options.

Wooton & Bean Specialist Lending Solutions

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Please note that neither Wooton & Bean Financial Solutions Ltd or PRIMIS Mortgage Network are responsible for the accuracy of the information contained within the linked site.