Compare Interest Only Mortgage Deals

Compare the best interest only mortgage deals from every UK lender that offers interest only mortgages using our whole of market comparison of cheap interest only mortgage rates and see which best suits your needs. We make finding the best interest only mortgage deal for your circumstances quick and easy.

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		Type	Initial Deal		ERC	Subsequent Rate	APR	Max LTV
		Type	Interest Rate	End Date	ERC	Subsequent Rate	APR	Max LTV
Promoted Results
	Post Office 2 Year 3.15% Fixed 80% LTV £850K £1,190 Fee	Fixed Rate	3.15%	31 May 2015		4.49%	4.4%	80%	0121 270 3340
	Chelsea Building Society 5 Year BBR+2.74% Tracker 85% LTV £1M £1,545 Fee	Tracker	3.24%	31 Jul 2015		4.24%	5.1%	85%
	Santander 2 Year 3.24% Fixed 80% LTV £550K £995 Fee	Fixed Rate	3.24%	02 Jul 2015		4.74%	4.7%	80%
	Santander 2 Year 3.24% Fixed 80% LTV £550K £250 Cashback £995 Fee	Fixed Rate	3.24%	02 Jul 2015		4.74%	4.7%	80%
	Santander 2 Year 3.24% Fixed 80% LTV £550K £250 Cashback £995 Fee	Fixed Rate	3.24%	02 Jul 2015		4.74%	4.6%	80%
	Chelsea Building Society 2 Year 3.29% Fixed 85% LTV £1M £1,545 Fee	Fixed Rate	3.29%	31 Jul 2015		5.79%	5.5%	85%
	NatWest 2 Year 3.29% Fixed 80% LTV £10M £995 Fee	Fixed Rate	3.29%	31 Oct 2015		4%	varies	80%
	Available for existing customers only.
	RBS 2 Year 3.29% Fixed 80% LTV £10M £995 Fee	Fixed Rate	3.29%	31 Oct 2015		4%	varies	80%
	Available for existing customers only.
	HSBC BBR+2.89% Tracker 80% LTV £1M £599 Fee	Tracker	3.39%	---		---	3.5%	80%	0800 077 4270
	Yorkshire BS 2 Year 3.44% Fixed 85% LTV £1M £845 Fee	Fixed Rate	3.44%	30 Jun 2015		4.99%	4.9%	85%
	Post Office 3 Year 3.45% Fixed 80% LTV £850K £1,190 Fee	Fixed Rate	3.45%	31 May 2016		4.49%	4.4%	80%	0121 270 3340
	Post Office 2 Year BBR+2.99% Tracker 80% LTV £850K £1,190 Fee	Tracker	3.49%	31 May 2015		4.49%	4.5%	80%	0121 270 3340
	Chelsea Building Society Offset 2 Year 3.49% Fixed 85% LTV £1M £1,545 Fee	Fixed Rate	3.49%	31 Jul 2015		5.79%	5.5%	85%
	Post Office 2 Year 3.49% Fixed 80% LTV £850K £195 Fee	Fixed Rate	3.49%	31 May 2015		4.49%	4.4%	80%	0121 270 3340
	Post Office 2 Year 3.49% Fixed 80% LTV £850K £195 Fee	Fixed Rate	3.49%	31 May 2015		4.49%	4.4%	80%	0121 270 3340
	Post Office 2 Year 3.49% Fixed 85% LTV £750K £195 Fee	Fixed Rate	3.49%	31 May 2015		4.49%	4.4%	85%	0121 270 3340
	Chelsea Building Society 2 Year BBR+3.04% Tracker 85% LTV £1M £500 Cashback £745 Fee	Tracker	3.54%	31 Jul 2015		5.79%	5.5%	85%
	Chelsea Building Society 2 Year 3.59% Fixed 85% LTV £1M 1% Cashback £1,345 Fee	Fixed Rate	3.59%	31 Jul 2015		5.79%	5.5%	85%
	Chelsea Building Society 2 Year 3.59% Fixed 90% LTV £1M £1,545 Fee	Fixed Rate	3.59%	31 Jul 2015		5.79%	5.5%	90%
	Chelsea Building Society 2 Year 3.59% Fixed 85% LTV £1M £500 Cashback £745 Fee	Fixed Rate	3.59%	31 Jul 2015		5.79%	5.5%	85%
	Chelsea Building Society 2 Year 3.59% Fixed 85% LTV £1M £745 Fee	Fixed Rate	3.59%	31 Jul 2015		5.79%	5.5%	85%
	Post Office 5 Year 3.59% Fixed 80% LTV £850K £1,190 Fee	Fixed Rate	3.59%	31 May 2018		4.49%	4.3%	80%	0121 270 3340
	Yorkshire BS Offset 2 Year BBR+3.09% Tracker 85% LTV £1M £845 Fee	Tracker	3.59%	30 Jun 2015		4.99%	4.9%	85%
	Chelsea Building Society 5 Year BBR+3.14% Tracker 90% LTV £1M £1,545 Fee	Tracker	3.64%	31 Jul 2015		4.59%	5.2%	90%
	Yorkshire BS 2 Year 3.64% Fixed 90% LTV £1M £845 Fee	Fixed Rate	3.64%	30 Jun 2015		4.99%	4.9%	90%
	Yorkshire BS Offset 2 Year 3.64% Fixed 85% LTV £1M £845 Fee	Fixed Rate	3.64%	30 Jun 2015		4.99%	4.9%	85%
	Yorkshire BS 2 Year BBR+3.19% Tracker 85% LTV £1M £500 Cashback £345 Fee	Tracker	3.69%	30 Jun 2015		4.99%	4.9%	85%
	Chelsea Building Society Offset 2 Year BBR+3.24% Tracker 85% LTV £1M £500 Cashback £745 Fee	Tracker	3.74%	31 Jul 2015		5.79%	5.6%	85%
	Chelsea Building Society Offset 2 Year BBR+3.24% Tracker 85% LTV £1M £745 Fee	Tracker	3.74%	31 Jul 2015		5.79%	5.6%	85%
	Santander 5 Year 3.74% Fixed 80% LTV £550K £995 Fee	Fixed Rate	3.74%	02 Jul 2018		4.74%	4.6%	80%
	Santander 5 Year 3.74% Fixed 80% LTV £550K £250 Cashback £995 Fee	Fixed Rate	3.74%	02 Jul 2018		4.74%	4.6%	80%
	Santander 5 Year 3.74% Fixed 80% LTV £550K £250 Cashback £995 Fee	Fixed Rate	3.74%	02 Jul 2018		4.74%	4.6%	80%
	Post Office 2 Year BBR+3.29% Tracker 85% LTV £750K £1,190 Fee	Tracker	3.79%	31 May 2015		4.49%	4.5%	85%	0121 270 3340
	Chelsea Building Society Offset 2 Year 3.79% Fixed 90% LTV £1M £1,545 Fee	Fixed Rate	3.79%	31 Jul 2015		5.79%	5.6%	90%
	Chelsea Building Society Offset 2 Year 3.79% Fixed 85% LTV £1M £500 Cashback £745 Fee	Fixed Rate	3.79%	31 Jul 2015		5.79%	5.6%	85%
	Chelsea Building Society Offset 2 Year 3.79% Fixed 85% LTV £1M £745 Fee	Fixed Rate	3.79%	31 Jul 2015		5.79%	5.6%	85%
	Yorkshire BS Offset 2 Year 3.84% Fixed 90% LTV £1M £845 Fee	Fixed Rate	3.84%	30 Jun 2015		4.99%	4.9%	90%
	Post Office 3 Year 3.85% Fixed 80% LTV £850K £195 Fee	Fixed Rate	3.85%	31 May 2016		4.49%	4.4%	80%	0121 270 3340
	Post Office 3 Year 3.85% Fixed 80% LTV £850K £195 Fee	Fixed Rate	3.85%	31 May 2016		4.49%	4.4%	80%	0121 270 3340
	Post Office 2 Year 3.89% Fixed 90% LTV £500K £1,690 Fee	Fixed Rate	3.89%	31 May 2015		4.49%	4.6%	90%	0121 270 3340
	NatWest 2 Year 3.89% Fixed 80% LTV £10M No Fee	Fixed Rate	3.89%	31 Oct 2015		4%	varies	80%
	Available for existing customers only.
	NatWest 5 Year 3.89% Fixed 80% LTV £10M £995 Fee	Fixed Rate	3.89%	31 Oct 2018		4%	varies	80%
	Available for existing customers only.
	RBS 2 Year 3.89% Fixed 80% LTV £10M No Fee	Fixed Rate	3.89%	31 Oct 2015		4%	varies	80%
	RBS 2 Year 3.89% Fixed 80% LTV £10M No Fee	Fixed Rate	3.89%	31 Oct 2015		4%	varies	80%
	RBS 2 Year BBR+3.39% Tracker 80% LTV £10M No Fee	Tracker	3.89%	31 Oct 2015		4%	varies	80%
	RBS 2 Year BBR+3.39% Tracker 80% LTV £10M No Fee	Tracker	3.89%	31 Oct 2015		4%	varies	80%
	RBS 2 Year 3.89% Fixed 80% LTV £10M No Fee	Fixed Rate	3.89%	31 Oct 2015		4%	varies	80%
	Available for existing customers only.
	RBS 5 Year 3.89% Fixed 80% LTV £10M £995 Fee	Fixed Rate	3.89%	31 Oct 2018		4%	varies	80%
	Available for existing customers only.
	Yorkshire BS Offset 2 Year BBR+3.39% Tracker 85% LTV £1M £500 Cashback £345 Fee	Tracker	3.89%	30 Jun 2015		4.99%	4.9%	85%
	Yorkshire BS Offset 2 Year BBR+3.39% Tracker 85% LTV £1M £345 Fee	Tracker	3.89%	30 Jun 2015		4.99%	4.9%	85%
	Santander 2 Year 3.94% Fixed 85% LTV £550K £250 Cashback No Fee	Fixed Rate	3.94%	02 Jul 2015		4.74%	4.7%	85%
	Chelsea Building Society 2 Year 3.94% Fixed 90% LTV £1M £500 Cashback £745 Fee	Fixed Rate	3.94%	31 Jul 2015		5.79%	5.6%	90%
	Post Office 5 Year 3.95% Fixed 85% LTV £750K £1,190 Fee	Fixed Rate	3.95%	31 May 2018		4.49%	4.5%	85%	0121 270 3340
	Post Office 5 Year 3.98% Fixed 80% LTV £850K £195 Fee	Fixed Rate	3.98%	31 May 2018		4.49%	4.4%	80%	0121 270 3340
	Post Office 5 Year 3.98% Fixed 80% LTV £850K £195 Fee	Fixed Rate	3.98%	31 May 2018		4.49%	4.4%	80%	0121 270 3340
	Post Office 2 Year 3.99% Fixed 85% LTV £750K £195 Fee	Fixed Rate	3.99%	31 May 2015		4.49%	4.5%	85%	0121 270 3340
	Post Office 2 Year 3.99% Fixed 85% LTV £750K £195 Fee	Fixed Rate	3.99%	31 May 2015		4.49%	4.5%	85%	0121 270 3340
	RBS Offset 4% 80% LTV £10M £499 Fee	Variable	4%	---		---	varies	80%
	RBS Offset 4% 80% LTV £10M £499 Fee	Variable	4%	---		---	varies	80%
	Chelsea Building Society Offset 3 Year 4.04% Fixed 85% LTV £1M £1,545 Fee	Fixed Rate	4.04%	31 Jul 2016		5.79%	5.5%	85%
Full Results
	West Bromwich Building Society 2 Year 2.59% Fixed 80% LTV £500K £594 Fee	Fixed Rate	2.59%	31 May 2015		3.99%	---	80%
	Loughborough 2 Year 2.39% Discount 80% LTV £300K £499 Fee	Variable	2.60%	24 months		4.99%	4.8%	80%
	Marsden 2 Year 3.26% Discount 80% LTV £350K £250 Cashback £299 Fee	Variable	2.69%	30 Sep 2015		5.95%	5.3%	80%
	Marsden 2 Year 3.26% Discount 80% LTV £350K £299 Fee	Variable	2.69%	30 Sep 2015		5.95%	5.3%	80%
	Newcastle Build. Soc. 2 Year 2.74% Fixed 80% LTV £1M £195 Fee	Fixed Rate	2.74%	30 Jun 2015		5.99%	5.6%	80%
	Newcastle Build. Soc. 2 Year 2.74% Fixed 80% LTV £500K £995 Fee	Fixed Rate	2.74%	30 Jun 2015		5.99%	5.6%	80%
	West Bromwich Building Society 2 Year 2.75% Fixed 80% LTV £500K £594 Fee	Fixed Rate	2.75%	31 May 2015		3.99%	---	80%
	West Bromwich Building Society 2 Year 2.75% Fixed 80% LTV £500K £748 Fee	Fixed Rate	2.75%	31 May 2015		3.99%	---	80%
	West Bromwich Building Society 3 Year 2.75% Fixed 80% LTV £500K £1,094 Fee	Fixed Rate	2.75%	31 May 2016		3.99%	---	80%
	Beverley 2 Year 1.96% Discount 80% LTV £500K £1,195 Fee	Variable	2.79%	24 months		4.75%	4.6%	80%
	Beverley Offset 2 Year 1.96% Discount 80% LTV £500K £1,195 Fee	Variable	2.79%	24 months		4.75%	4.6%	80%
	Beverley Offset 2 Year 1.96% Discount 80% LTV £500K £1,195 Fee	Variable	2.79%	24 months		4.75%	4.6%	80%
	Beverley 2 Year 1.96% Discount 80% LTV £500K £1,195 Fee	Variable	2.79%	24 months		4.75%	4.6%	80%
	Monmouthshire Building Society 2 Year 2.2% Discount 80% LTV £400K £995 Fee	Variable	2.79%	24 months		4.99%	4.8%	80%
	Tipton & Coseley 2 Year 2.2% Discount 80% LTV £350K	Variable	2.79%	31 May 2015		4.99%	4.7%	80%
	Tipton & Coseley 3 Year 2.2% Discount 80% LTV £350K	Variable	2.79%	31 May 2016		4.99%	4.5%	80%
	West Bromwich Building Society 2 Year 2.79% Fixed 80% LTV £500K £748 Fee	Fixed Rate	2.79%	31 May 2015		3.99%	---	80%
	West Bromwich Building Society 3 Year 2.79% Fixed 80% LTV £500K £1,094 Fee	Fixed Rate	2.79%	31 May 2016		3.99%	---	80%
	Mansfield 2 Year 2.79% Discount 80% LTV £400K £998 Fee	Variable	2.80%	24 months		5.59%	5.2%	80%
	Leeds Building Society 2 Year 2.85% Discount 80% LTV £500K £499 Fee	Variable	2.84%	24 months		5.69%	5.5%	80%
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How to Find the Best Interest Only Mortgage Deals

Interest only mortgages are a popular choice but you need to fully understand how do interest only mortgages work so you can decide if they're the right option for you, and if so find the best deal.

The reality is that interest only mortgages are actually one of the more simple types of mortgage.

Essentially they are a bit of a “does what it says on the tin” mortgage in that your repayments pay off the mortgages interest only.

The alternative is a repayment mortgage where your monthly repayments are used to pay down your mortgage borrowing as well as the interest on your debt.

The main benefit of an interest only mortgage is primarily the fact that it allows you to pay a smaller amount each month in return for owning your own home. It's for this reason that this type of mortgage is so popular with first time buyers.

The main drawback of an interest only mortgage, and one that you must consider before you apply, is that even if you make every single one of your monthly repayments, you'll still owe the mortgage company the full amount you borrowed at the end of your mortgage term.

This is because your repayments haven't been paying down the capital, simply servicing the interest on the loan. As such, you'll need to find an alternative means of settling your mortgage debt.

The most common way to do this is to save or invest throughout your mortgage term so you have the money available.

An alternative is to take out a deal with the best interest only mortgage rates for a short while and then, when you're in a better financial situation, switch to a repayment mortgage so that you're paying down your borrowing too.

Understandably, when looking for the best interest only mortgages the majority of people will look for the lowest interest rates first.

However, it is important to remember that these are not the only thing that should be considered because the terms of the agreement will differ with each mortgage provider and the importance of these should not be underestimated.

When you factor in any additional potential charges associated with your application for interest only mortgages or punitive payments should you wish to start paying off all or some of your outstanding balance early, the interest rate you originally thought was a good deal could actually leave you paying more than other slightly higher mortgage deals.

	Tracker		Remortgages
	Fixed Rate		First Time Buyer
	Buy To Let

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How to Find the Best Interest Only Mortgage Deals

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