
| Glossary of Terms | Company / Product | Interest Only Mortgage | Mortgage Type | Initial Rate | Final Rate | Mortgage APR | Max LTV | More Info | Proceed | ||||||||||||||||||||||||||||||||||||||||
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![]() | Santander ![]() | varies | from2.49% | up to02 May 2015 | from3.25% | from3.4% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Post Office ![]() | varies | from2.99% | up to31 Mar 2015 | from2.49% | from2.8% | up to80% | ![]() | |||||||||||||||||||||||||||||||||||||||||
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![]() | Chorley & District Building Society ![]() | varies | from2.00% | up to24months | from3.99% | from4.2% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | HSBC ![]() | varies | from2.29% | up to31 Mar 2015 | from3.94% | from3.8% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | First Direct ![]() | varies | from2.39% | up to36months | from2.58% | from2.5% | up to80% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Santander ![]() | varies | from2.49% | up to02 May 2015 | from3.25% | from3.4% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Nationwide ![]() | varies | from2.64% | up to60months | 3.99% | from3.9% | up to95% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Earl Shilton ![]() | varies | from2.65% | up to60months | from4.05% | from4% | 75% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Leek United ![]() | varies | from2.69% | up to60months | 5.19% | from4.9% | up to85% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Principality Building Society ![]() | varies | from2.69% | up to31 Mar 2020 | 4.99% | from4.9% | up to85% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Coventry Building Society ![]() | varies | from2.69% | up to31 Mar 2015 | from2.99% | from3.1% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Northern Rock ![]() | varies | from2.75% | up to01 Apr 2015 | 4.79% | from4.5% | up to85% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Cheshire ![]() | varies | from2.79% | up to60months | 3.99% | from3.9% | up to85% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Dunfermline Building Society ![]() | varies | from2.79% | up to30 Apr 2013 | 5.19% | from5.1% | up to95% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Cambridge Building Society ![]() | varies | from2.89% | up to16 Dec 2014 | 4.59% | from4.6% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | RBS ![]() | varies | from2.89% | up to31 Dec 2019 | from3.75% | from3.9% | up to100% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Scottish Widows ![]() | varies | from2.89% | up to31 Mar 2012 | from3.99% | from3.9% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Market Harborough Building Society ![]() | varies | from2.95% | up to300months | from3.99% | from4% | 75% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Post Office ![]() | varies | from2.99% | up to31 Mar 2015 | from2.49% | from2.8% | up to80% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Alliance and Leicester ![]() | varies | from2.99% | up to02 May 2015 | from3.25% | from3.4% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Clydesdale Bank ![]() | varies | from2.99% | up to30 Apr 2012 | from3.79% | from4% | up to80% | ![]() | |||||||||||||||||||||||||||||||||||||||||
![]() | Leeds Building Society ![]() | varies | from2.99% | up to01 May 2015 | from5.49% | from5.2% | up to90% | ![]() | |||||||||||||||||||||||||||||||||||||||||
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Information on the different types of interest only mortgages, when they're likely to be suitable and possible disadvantages.
An interest only mortgage requires you to make monthly payments to the mortgage lender in order to pay off the interest on the amount borrowed. In addition to the interest only mortgage you need to establish a separate long term investment plan that will accumulate enough funds to pay off the full loan amount at the end of the repayment period.
The investment plan required to pay off the mortgage usually comes in one of three forms; an ISA (individual savings plan), a pension or an endowment. This investment does not have to be provided by the mortgage lender.
NB This information is provided to give you an overview of the different types of mortgages available. It is not comprehensive and you should not base your mortgage decision on the information found here. We recommend you seek professional advice in order to determine the most suitable mortgage for you.
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