Interest-only mortgages remain an important product, especially in London. If you have a certain profile or circumstances which merit an interest-only mortgage, this type of finance can be very advantageous. It’s a particularly viable route if your income is made up of large bonuses or commissions, for example. This finance can also be helpful if you plan to live in the property for a short time before selling it or if you have other assets which will cover your mortgage debt.
First and foremost, Enness will always discuss the advantages and drawbacks of an interest-only mortgage with you. It’s crucial that you understand all your options, what will be most beneficial to you, and if an interest-only mortgage is the best route in your circumstances. Enness will also look at your background and finances to ensure that an interest-only mortgage is an option – not everyone will have the right profile to allow lenders to offer this kind of finance.
Many of Enness’ clients request interest-only mortgages at the outset of conversations with a broker. Enness is experienced in arranging such property financing and will be able to secure the best terms and rates available on the market.