Interest Only Mortgages

  • With each monthly mortgage repayment only paying off interest, interest-only mortgages allow home buyers to keep their initial costs down.
  • Compare the latest interest rates, fees and other important features of interest only mortgages in the table below.
  • Or use our powerful mortgage search, including all deals available to brokers and direct deals too.

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The following results are based on a loan to value (LTV) of 60%.
  • Only available via a broker
  • Virgin Money
  • Mortgage Type
    fixed
  • Only available via a broker
  • Initial Rate
    1.24%
    Fixed to 01/04/2019
  • APRC
    4.00%
  • Monthly Payment
    £155
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    65%
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    + Product Details
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    YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      65%
    • Max House Purchase LTV:
      65%
    • Max Remortgage LTV:
      65%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.24% Fixed to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      £300 cashback House Purchase,First Time Buyers.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £155 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £302,695
    • Total Interest Payable:
      £151,950
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 2.5% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 28 months at 1.24% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £155 and 56 monthly payments of £567.50. The total amount payable would be £303,045 made up of the loan amount plus interest £151,950 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.00% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.29%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £161.25
  • ERC
    Yes
  • Fees
    £1,196
  • Max LTV
    60%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      60%
    • Min Loan:
      £10,000
    • Max Loan:
      £5,000,000
    • Product Description:
      1.29% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £161.25 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,471
    • Total Interest Payable:
      £130,275
    • Fees

    • Product Fee:
      £999
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.29% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £161.25 and 273 monthly payments of £461.25. The total amount payable would be £281,521 made up of the loan amount plus interest £130,275 and a product fee £999 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.29%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £161.25
  • ERC
    Yes
  • Fees
    £946
  • Max LTV
    60%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      60%
    • Min Loan:
      £10,000
    • Max Loan:
      £5,000,000
    • Product Description:
      1.29% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £161.25 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,221
    • Total Interest Payable:
      £130,275
    • Fees

    • Product Fee:
      £749
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.29% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £161.25 and 273 monthly payments of £461.25. The total amount payable would be £281,271 made up of the loan amount plus interest £130,275 and a product fee £749 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.29%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £161.25
  • ERC
    Yes
  • Fees
    £946
  • Max LTV
    60%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      60%
    • Min Loan:
      £10,000
    • Max Loan:
      £5,000,000
    • Product Description:
      1.29% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £161.25 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,221
    • Total Interest Payable:
      £130,275
    • Fees

    • Product Fee:
      £749
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.29% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £161.25 and 273 monthly payments of £461.25. The total amount payable would be £281,271 made up of the loan amount plus interest £130,275 and a product fee £749 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • NatWest
  • NatWest
  • Mortgage Type
    fixed
  • Initial Rate
    1.32%
    Fixed to 31/01/2019
  • APRC
    3.60%
  • Monthly Payment
    £165
  • ERC
    Yes
  • Fees
    £1,243
  • Max LTV
    60%
  • More Info+ Product Details
    • Summary

    • Lender:
      NatWest
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £25,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.32% Fixed to 31/01/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £165 x 25
    • Ongoing Monthly Payments:
      £468.75 x 275
    • Total Amount Payable:
      £284,774.30
    • Total Interest Payable:
      £133,031.30
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      £248
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/1/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 25 months at 1.32% and then reverting to our variable rate of 3.75% variable for remaining term. 25 monthly payments of £165 and 275 monthly payments of £468.75. The total amount payable would be £284,324.30 made up of the loan amount plus interest £133,031.30 and a product fee £995 and valuation fee £248. The overall cost for comparison is 3.60% APRC representative.

  • Royal Bank of Scotland
  • Mortgage Type
    fixed
  • Initial Rate
    1.32%
    Fixed to 31/01/2019
  • APRC
    3.60%
  • Monthly Payment
    £165
  • ERC
    Yes
  • Fees
    £1,243
  • Max LTV
    60%
  • + Product Details
    • Summary

    • Lender:
      Royal Bank of Scotland
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £25,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.32% Fixed to 31/01/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £165 x 25
    • Ongoing Monthly Payments:
      £468.75 x 275
    • Total Amount Payable:
      £284,774.30
    • Total Interest Payable:
      £133,031.30
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      £248
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/1/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 25 months at 1.32% and then reverting to our variable rate of 3.75% variable for remaining term. 25 monthly payments of £165 and 275 monthly payments of £468.75. The total amount payable would be £284,324.30 made up of the loan amount plus interest £133,031.30 and a product fee £995 and valuation fee £248. The overall cost for comparison is 3.60% APRC representative.

  • Halifax
  • Halifax
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.60%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £1,724
  • Max LTV
    60%
  • More Info+ Product Details
    • Summary

    • Lender:
      Halifax
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £0
    • Max Loan:
      £1,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £467.50 x 273
    • Total Amount Payable:
      £284,542.80
    • Total Interest Payable:
      £132,318.80
    • Fees

    • Product Fee:
      £1,294
    • Valuation Fee:
      £430
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2.5/1.3% Mortgage Advance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.74% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £467.50. The total amount payable would be £284,092.80 made up of the loan amount plus interest £132,318.80 and a product fee £1,294 and valuation fee £430. The overall cost for comparison is 3.60% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £1,196
  • Max LTV
    70%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      70%
    • Min Loan:
      £10,000
    • Max Loan:
      £3,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,808.50
    • Total Interest Payable:
      £130,612.50
    • Fees

    • Product Fee:
      £999
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £461.25. The total amount payable would be £281,858.50 made up of the loan amount plus interest £130,612.50 and a product fee £999 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £946
  • Max LTV
    70%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      70%
    • Min Loan:
      £10,000
    • Max Loan:
      £3,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,558.50
    • Total Interest Payable:
      £130,612.50
    • Fees

    • Product Fee:
      £749
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £461.25. The total amount payable would be £281,608.50 made up of the loan amount plus interest £130,612.50 and a product fee £749 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £946
  • Max LTV
    70%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      70%
    • Min Loan:
      £10,000
    • Max Loan:
      £3,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,558.50
    • Total Interest Payable:
      £130,612.50
    • Fees

    • Product Fee:
      £749
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £461.25. The total amount payable would be £281,608.50 made up of the loan amount plus interest £130,612.50 and a product fee £749 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £946
  • Max LTV
    75%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      75%
    • Min Loan:
      £10,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,558.50
    • Total Interest Payable:
      £130,612.50
    • Fees

    • Product Fee:
      £749
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £461.25. The total amount payable would be £281,608.50 made up of the loan amount plus interest £130,612.50 and a product fee £749 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £946
  • Max LTV
    75%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      75%
    • Min Loan:
      £10,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,558.50
    • Total Interest Payable:
      £130,612.50
    • Fees

    • Product Fee:
      £749
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £461.25. The total amount payable would be £281,608.50 made up of the loan amount plus interest £130,612.50 and a product fee £749 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • HSBC
  • Mortgage Type
    fixed
  • Initial Rate
    1.39%
    Fixed to 31/03/2019
  • APRC
    3.50%
  • Monthly Payment
    £173.75
  • ERC
    Yes
  • Fees
    £1,196
  • Max LTV
    75%
  • + Product Details
    • Summary

    • Lender:
      HSBC
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      75%
    • Min Loan:
      £10,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.39% Fixed to 31/03/2019
    • Incentives:
      Free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £173.75 x 27
    • Ongoing Monthly Payments:
      £461.25 x 273
    • Total Amount Payable:
      £281,808.50
    • Total Interest Payable:
      £130,612.50
    • Fees

    • Product Fee:
      £999
    • Valuation Fee:
      £197
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.39% and then reverting to our variable rate of 3.69% variable for remaining term. 27 monthly payments of £173.75 and 273 monthly payments of £461.25. The total amount payable would be £281,858.50 made up of the loan amount plus interest £130,612.50 and a product fee £999 and valuation fee £197. The overall cost for comparison is 3.50% APRC representative.

  • NatWest
  • NatWest
  • Mortgage Type
    fixed
  • Initial Rate
    1.41%
    Fixed to 31/01/2019
  • APRC
    3.60%
  • Monthly Payment
    £176.25
  • ERC
    Yes
  • Fees
    £1,243
  • Max LTV
    75%
  • More Info+ Product Details
    • Summary

    • Lender:
      NatWest
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £25,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.41% Fixed to 31/01/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £176.25 x 25
    • Ongoing Monthly Payments:
      £468.75 x 275
    • Total Amount Payable:
      £285,055.50
    • Total Interest Payable:
      £133,312.50
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      £248
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/1/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 25 months at 1.41% and then reverting to our variable rate of 3.75% variable for remaining term. 25 monthly payments of £176.25 and 275 monthly payments of £468.75. The total amount payable would be £284,605.50 made up of the loan amount plus interest £133,312.50 and a product fee £995 and valuation fee £248. The overall cost for comparison is 3.60% APRC representative.

  • NatWest
  • NatWest
  • Mortgage Type
    fixed
  • Initial Rate
    1.41%
    Fixed to 31/01/2019
  • APRC
    3.60%
  • Monthly Payment
    £176.25
  • ERC
    Yes
  • Fees
    £1,243
  • Max LTV
    70%
  • More Info+ Product Details
    • Summary

    • Lender:
      NatWest
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £25,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.41% Fixed to 31/01/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £176.25 x 25
    • Ongoing Monthly Payments:
      £468.75 x 275
    • Total Amount Payable:
      £285,055.50
    • Total Interest Payable:
      £133,312.50
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      £248
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/1/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 25 months at 1.41% and then reverting to our variable rate of 3.75% variable for remaining term. 25 monthly payments of £176.25 and 275 monthly payments of £468.75. The total amount payable would be £284,605.50 made up of the loan amount plus interest £133,312.50 and a product fee £995 and valuation fee £248. The overall cost for comparison is 3.60% APRC representative.

  • Royal Bank of Scotland
  • Mortgage Type
    fixed
  • Initial Rate
    1.41%
    Fixed to 31/01/2019
  • APRC
    3.60%
  • Monthly Payment
    £176.25
  • ERC
    Yes
  • Fees
    £1,243
  • Max LTV
    70%
  • + Product Details
    • Summary

    • Lender:
      Royal Bank of Scotland
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £25,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.41% Fixed to 31/01/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £176.25 x 25
    • Ongoing Monthly Payments:
      £468.75 x 275
    • Total Amount Payable:
      £285,055.50
    • Total Interest Payable:
      £133,312.50
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      £248
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/1/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 25 months at 1.41% and then reverting to our variable rate of 3.75% variable for remaining term. 25 monthly payments of £176.25 and 275 monthly payments of £468.75. The total amount payable would be £284,605.50 made up of the loan amount plus interest £133,312.50 and a product fee £995 and valuation fee £248. The overall cost for comparison is 3.60% APRC representative.

  • Royal Bank of Scotland
  • Mortgage Type
    fixed
  • Initial Rate
    1.41%
    Fixed to 31/01/2019
  • APRC
    3.60%
  • Monthly Payment
    £176.25
  • ERC
    Yes
  • Fees
    £1,243
  • Max LTV
    75%
  • + Product Details
    • Summary

    • Lender:
      Royal Bank of Scotland
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £25,000
    • Max Loan:
      £2,000,000
    • Product Description:
      1.41% Fixed to 31/01/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £176.25 x 25
    • Ongoing Monthly Payments:
      £468.75 x 275
    • Total Amount Payable:
      £285,055.50
    • Total Interest Payable:
      £133,312.50
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      £248
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/1/19: 2/1% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 25 months at 1.41% and then reverting to our variable rate of 3.75% variable for remaining term. 25 monthly payments of £176.25 and 275 monthly payments of £468.75. The total amount payable would be £284,605.50 made up of the loan amount plus interest £133,312.50 and a product fee £995 and valuation fee £248. The overall cost for comparison is 3.60% APRC representative.

  • Post Office Money®
  • Post Office Money®
  • Mortgage Type
    fixed
  • Initial Rate
    1.43%
    Fixed to 30/11/2018
  • APRC
    4.10%
  • Monthly Payment
    £178.75
  • ERC
    Yes
  • Fees
    £1,495
  • Max LTV
    60%
  • More Info+ Product Details
    • Summary

    • Lender:
      Post Office Money®
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      60%
    • Min Loan:
      £25,001
    • Max Loan:
      Varies
    • Product Description:
      1.43% Fixed to 30/11/2018
    • Incentives:
      Free valuation fees.
      free valuation admin fees.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £178.75 x 23
    • Ongoing Monthly Payments:
      £530 x 277
    • Total Amount Payable:
      £303,011.30
    • Total Interest Payable:
      £150,921.30
    • Fees

    • Product Fee:
      £1,495
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £195
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 30/11/18: 3/2% Sum Repaid
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 23 months at 1.43% and then reverting to our tracker rate of 4.24% tracker for remaining term. 23 monthly payments of £178.75 and 277 monthly payments of £530. The total amount payable would be £302,661.30 made up of the loan amount plus interest £150,921.30 and a product fee £1,495 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Halifax
  • Halifax
  • Mortgage Type
    fixed
  • Initial Rate
    1.44%
    Fixed to 31/03/2019
  • APRC
    3.60%
  • Monthly Payment
    £180
  • ERC
    Yes
  • Fees
    £1,724
  • Max LTV
    75%
  • More Info+ Product Details
    • Summary

    • Lender:
      Halifax
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £0
    • Max Loan:
      £1,000,000
    • Product Description:
      1.44% Fixed to 31/03/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £180 x 27
    • Ongoing Monthly Payments:
      £467.50 x 273
    • Total Amount Payable:
      £284,711.50
    • Total Interest Payable:
      £132,487.50
    • Fees

    • Product Fee:
      £1,294
    • Valuation Fee:
      £430
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2.5/1.3% Mortgage Advance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 27 months at 1.44% and then reverting to our variable rate of 3.74% variable for remaining term. 27 monthly payments of £180 and 273 monthly payments of £467.50. The total amount payable would be £284,261.50 made up of the loan amount plus interest £132,487.50 and a product fee £1,294 and valuation fee £430. The overall cost for comparison is 3.60% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    tracker
  • Initial Rate
    1.44%
    Variable to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £180
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    65%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      0%
    • Max House Purchase LTV:
      0%
    • Max Remortgage LTV:
      65%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.44% Variable to 01/04/2019
    • Incentives:
      Free valuation fees.
      free legal fees.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £180 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,695
    • Total Interest Payable:
      £152,650
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 1% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 28 months at 1.44% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £180 and 56 monthly payments of £567.50. The total amount payable would be £303,880 made up of the loan amount plus interest £152,650 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    fixed
  • Initial Rate
    1.44%
    Fixed to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £180
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    65%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      65%
    • Max House Purchase LTV:
      65%
    • Max Remortgage LTV:
      65%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.44% Fixed to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      £300 cashback House Purchase,First Time Buyers.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £180 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,395
    • Total Interest Payable:
      £152,650
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 2.5% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 28 months at 1.44% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £180 and 56 monthly payments of £567.50. The total amount payable would be £303,745 made up of the loan amount plus interest £152,650 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Halifax
  • Halifax
  • Mortgage Type
    tracker
  • Initial Rate
    1.49%
    Variable to 31/03/2019
  • APRC
    3.60%
  • Monthly Payment
    £186.25
  • ERC
    Yes
  • Fees
    £1,724
  • Max LTV
    60%
  • More Info+ Product Details
    • Summary

    • Lender:
      Halifax
    • Max First Time Buyer LTV:
      60%
    • Max House Purchase LTV:
      60%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £0
    • Max Loan:
      £1,000,000
    • Product Description:
      1.49% Variable to 31/03/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £186.25 x 27
    • Ongoing Monthly Payments:
      £467.50 x 273
    • Total Amount Payable:
      £284,880.30
    • Total Interest Payable:
      £132,656.30
    • Fees

    • Product Fee:
      £1,294
    • Valuation Fee:
      £430
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 3/1.75% Mortgage Advance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 27 months at 1.49% and then reverting to our variable rate of 3.74% variable for remaining term. 27 monthly payments of £186.25 and 273 monthly payments of £467.50. The total amount payable would be £284,430.30 made up of the loan amount plus interest £132,656.30 and a product fee £1,294 and valuation fee £430. The overall cost for comparison is 3.60% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    tracker
  • Initial Rate
    1.49%
    Variable to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £186.25
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    65%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      0%
    • Max House Purchase LTV:
      0%
    • Max Remortgage LTV:
      65%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.49% Variable to 01/04/2019
    • Incentives:
      Free valuation fees.
      free legal fees.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £186.25 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,870
    • Total Interest Payable:
      £152,825
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 1% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 28 months at 1.49% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £186.25 and 56 monthly payments of £567.50. The total amount payable would be £304,055 made up of the loan amount plus interest £152,825 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    tracker
  • Initial Rate
    1.49%
    Variable to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £186.25
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    70%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      70%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.49% Variable to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £186.25 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,870
    • Total Interest Payable:
      £152,825
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 1% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 28 months at 1.49% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £186.25 and 56 monthly payments of £567.50. The total amount payable would be £303,920 made up of the loan amount plus interest £152,825 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    tracker
  • Initial Rate
    1.50%
    1.50% Variable to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £187.50
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    70%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      70%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.50% Variable to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £187.50 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,905
    • Total Interest Payable:
      £152,860
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 1% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 28 months at 1.50% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £187.50 and 56 monthly payments of £567.50. The total amount payable would be £303,955 made up of the loan amount plus interest £152,860 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    tracker
  • Initial Rate
    1.52%
    Variable to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £190
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    75%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      75%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.52% Variable to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £190 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,975
    • Total Interest Payable:
      £152,930
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 1% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 28 months at 1.52% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £190 and 56 monthly payments of £567.50. The total amount payable would be £304,025 made up of the loan amount plus interest £152,930 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Halifax
  • Halifax
  • Mortgage Type
    tracker
  • Initial Rate
    1.54%
    Variable to 31/03/2019
  • APRC
    3.60%
  • Monthly Payment
    £192.50
  • ERC
    Yes
  • Fees
    £1,724
  • Max LTV
    75%
  • More Info+ Product Details
    • Summary

    • Lender:
      Halifax
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      0%
    • Min Loan:
      £0
    • Max Loan:
      £1,000,000
    • Product Description:
      1.54% Variable to 31/03/2019
    • Incentives:
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £192.50 x 27
    • Ongoing Monthly Payments:
      £467.50 x 273
    • Total Amount Payable:
      £285,049
    • Total Interest Payable:
      £132,825
    • Fees

    • Product Fee:
      £1,294
    • Valuation Fee:
      £430
    • Charges

    • Exit Admin Fee:
      £0
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 31/3/19: 2.75/1.5% Mortgage Advance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 27 months at 1.54% and then reverting to our variable rate of 3.74% variable for remaining term. 27 monthly payments of £192.50 and 273 monthly payments of £467.50. The total amount payable would be £284,599 made up of the loan amount plus interest £132,825 and a product fee £1,294 and valuation fee £430. The overall cost for comparison is 3.60% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    fixed
  • Initial Rate
    1.54%
    Fixed to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £192.50
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    70%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      70%
    • Max House Purchase LTV:
      70%
    • Max Remortgage LTV:
      70%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.54% Fixed to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      £300 cashback House Purchase,First Time Buyers.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £192.50 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,745
    • Total Interest Payable:
      £153,000
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 2.5% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 28 months at 1.54% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £192.50 and 56 monthly payments of £567.50. The total amount payable would be £304,095 made up of the loan amount plus interest £153,000 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    tracker
  • Initial Rate
    1.55%
    Variable to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £193.75
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    75%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      75%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.55% Variable to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £193.75 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £304,080
    • Total Interest Payable:
      £153,035
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 1% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a tracker rate for 28 months at 1.55% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £193.75 and 56 monthly payments of £567.50. The total amount payable would be £304,130 made up of the loan amount plus interest £153,035 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

  • Virgin Money
  • Virgin Money
  • Mortgage Type
    fixed
  • Initial Rate
    1.58%
    Fixed to 01/04/2019
  • APRC
    4.10%
  • Monthly Payment
    £197.50
  • ERC
    Yes
  • Fees
    £995
  • Max LTV
    75%
  • More Info+ Product Details
    • Summary

    • Lender:
      Virgin Money
    • Max First Time Buyer LTV:
      75%
    • Max House Purchase LTV:
      75%
    • Max Remortgage LTV:
      75%
    • Min Loan:
      £0
    • Max Loan:
      Varies
    • Product Description:
      1.58% Fixed to 01/04/2019
    • Incentives:
      Free valuation fees Remortgages.
      free legal fees Remortgages.
      £300 cashback House Purchase,First Time Buyers.
      No Higher Lending Charge (HLC).
    • Repayments

    • Initial Monthly Repayment:
      £197.50 x 28
    • Ongoing Monthly Payments:
      £567.50 x 56
    • Total Amount Payable:
      £303,885
    • Total Interest Payable:
      £153,140
    • Fees

    • Product Fee:
      £995
    • Valuation Fee:
      Free
    • Charges

    • Exit Admin Fee:
      £50
    • Early Repayment Charge:
      Yes
    • Early Repayment Charge Details:
      to 1/4/19: 2.5% Outstanding Balance
  • Representative example: A mortgage of £150,000 payable over 25 years initially on a fixed rate for 28 months at 1.58% and then reverting to our variable rate of 4.54% variable for remaining term. 28 monthly payments of £197.50 and 56 monthly payments of £567.50. The total amount payable would be £304,235 made up of the loan amount plus interest £153,140 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.10% APRC representative.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The above results are based on a interest only mortgage of £150,000, on a property value of £250,000, over a term of 25 years. This is a loan to value (LTV) of 60%. Our mortgage comparison service includes providers from whom we may receive commission. This table initially lists featured products. The mortgage data above was supplied by Moneyfacts Ltd and was last updated 11:30, 10/12/2016.The figures and data provided in our tables are for illustration purposes only. While we make every effort to ensure the accuracy of this data you should always confirm the terms on offer with the provider/broker. We do not give any financial advice.
The above results are based on a interest only mortgage of £150,000, on a property value of £250,000, over a term of 25 years. This is a loan to value (LTV) of 60%. Our mortgage comparison service includes providers from whom we may receive commission. The mortgage data above was supplied by Moneyfacts Ltd and was last updated 02:12 11/12/2016.The figures and data provided in our tables are for illustration purposes only. While we make every effort to ensure the accuracy of this data you should always confirm the terms on offer with the provider/broker. We do not give any financial advice.

More about interest only mortgages

If you're looking to get a head start on the housing ladder, or keep your costs low for a while, an interest only deal on your mortgage could be a very favourable arrangement. Instead of paying off a small chunk of your total debt each month, your costs will be limited to only the interest that has been accrued at that point. This could see your monthly outgoings reduced dramatically, especially when lending rates are low.

Typically, the interest only period will last from one to five years, during which time you'll be on a fixed or tracker interest rate, but you can sometimes find one for the entire term.

There are a number of reasons why it might be the best option. It could be that you are facing other expenses, such as starting your own business or saving for a life pursuit. Perhaps you can't be certain that you will be able to sustain your usual level of income for a time or maybe you have a found a place where your money can work harder for you than by paying off your home loan.

It does mean, of course, that by the end of the interest only period you will still owe the lender the same amount that you did to begin with. And if you reach the end of the mortgage and don't have other means to cover your shortfall, you could risk having your home repossessed. As such, you shouldn't look to rely on things like property prices going up or an uncertain windfall as justification for an interest only mortgage.

There is also a possibility that you could fall into negative equity with an interest only mortgage, owing more money than your house is worth, if the market slumps. Consider your options carefully.

Learn more about different types of mortgage with Know Your Money's guide.