Interest Only has become more popular over recent years with our clients, as it allows for your monthly payments to be lower than 'Capital & Interest' repayment mortgage.
However these types of mortgages come with certain amount of risk, as they do not contribute towards the repayment of your actual mortgage balance.
After going through all the pros and cons, if you decide that this is the right option for you, Brooklyns Financial will reach out to a wide range of banks, building societies and specialist lenders, we have access to and find the right offering for your personal circumstances.
Currently many mortgage lenders, in order to attract new clients, have improved their interest only offering, as it is no longer a niche offering. Many lenders now require the borrower to earn a minimum salary of £75,000 and some have offerings for borrowers who have sufficient equity in their property.
Sale of property is still a popular acceptable repayment option for many banks and building societies along with bonuses, pensions or ISAs as repayment vehicles.
We have access to a wide selection of lenders who we can recommend for your needs. We therefore pride ourselves on searching for the most suitable mortgage for your needs whilst keeping the experience as smooth as possible.