We recently shared Malcolm and Amanda’s story, showcasing how an interest-only mortgage helped them extend their stay by another 10 years in the family home they cherish.
This week, we want to talk about our diverse range of interest-only criteria, designed to support your just-off-high-street customers when they fall just short of high street requirements.
Our interest only criteria
- Interest only up to 60% LTV
- Sale and downsize accepted with NO minimum equity requirement
- Earned income up to 75 (max age 80 at the end of term)
- Income from just £18,000 per application
- Private pension and state retirement pension (SRP) are accepted
- Affordability assessed on an interest-only basis
Is there a customer who could benefit from an interest only mortgage with us? Start the application today:
terest only can be a valuable option in a broker’s toolkit in the right circumstances.
For example, downsizers minimising payments, self-employed customers seeking flexibility, or retirees extending mortgage terms.
Typically, interest only applicants have higher household incomes of between £50,000 – £99,000 per year.
So, keep interest only options in mind, as it might just be ideal for some of your customers.