With a 25% deposit you can apply for a 75% LTV interest-only mortgage.
There have been many changes to the interest-only mortgage market in the last 12 months. Many lenders have withdrawn from the market altogether, while others still loan on this basis but have significantly tightened their criteria.
While interest-only mortgages are no longer as widely available from lenders are they once were, they do have an important place in the market. Interest-only does work for those who can prove they can repay the capital owed at the end of their mortgage term
The fact is as long as you have a 25% deposit and you can show that you have an adequate repayment vehicle in place then there are deals on offer at 75% LTV.
However the number of lenders who would be prepared to advance a 75% LTV interest-only mortgage is relatively limited, there are certainly far fewer than those offering standard repayment residential mortgages.
Lenders include Aldermore, Scottish Widows and the Marsden BS. If you want to find out where you could get a 75% LTV deal you need to make a call to an adviser at Deal Direct.
We can help you get accepted on an interest-only basis. We are up to date on all lenders mortgage criteria, and we know and have access to all UK lenders mortgage products.
Call us today to find out what interest-only deal best suits your needs and the mortgage rate you will be charged.
Deal Direct has access to all mortgages market-wide.
Call for a free no obligation quote on 0800 048 8828.
