Finding a 50% LTV interest-only mortgage.

A great many lenders have restricted the products they are prepared to offer on an interest-only mortgage basis, so the larger the deposit you have the better.

Criteria in this area of the market has been tightened, and one of the major changes which has happened is product withdrawals at lower deposit levels. Those with a 50% deposit should have far more success getting a deal, because despite mortgage choice being greatly restricted a large deposit can still open doors.

There are currently around half a dozen lenders prepared to advance mortgages at 50% LTV. These lenders include the Leeds BS, Kensington BS and the Principality.

Being accepted for an interest-only mortgage.

Mortgage conditions vary but the one thing that you must be able to do is to prove how you intend to repay the capital owed at the end of the mortgage term. It is no longer the case that you can use the sale of the property as an adequate repayment vehicle.

If you are looking for a 50% LTV interest-only mortgage you are advised to contact an independent 'whole of market' mortgage broker to undertake a mortgage comparison on your behalf.

Why choose Deal Direct for your mortgage comparison?

• We offer impartial mortgage advice, we will only recommend the product which is truly best suited to your needs.
• We like to build up long term relationships with our clients and therefore we only offer advice based on what is in your best long term interest. Should you wish to remortgage in the future we want to be the broker you call.
• As independent 'whole of market' brokers we work solely in the interest of our clients.
• We do not work on behalf of any lender, therefore after a review of your circumstances we will compare all deals available for your deposit level to come up with one which is the most competitive and affordable.

For independent advice, and to compare all interest-only mortgages available for your deposit level, call 0800 048 8828.