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Interest only mortgage

Independent advice on mortgages, pensions, investments and insurance.

For interest only mortgage rates that are extremely competitive without compromising on service!

Libra Financial Planning

Interest Only Mortgages:

  • Interest only mortgages loans do not require you to make capital repayments until the end of the loan. The monthly payments to the lender are made up entirely of interest on your outstanding debt.

  •  In order to repay the outstanding debt, you would normally use an additional savings vehicle, that enables you to build a fund of money from which you can clear the mortgage at the end of the agreed term. The lender may also expect you to have sufficient life assurance cover to enable your next of kin to repay the debt if you die during the term of the mortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage.

You can choose how we are paid: pay a fee, usually 1% of the loan amount, or we can accept commission from the lender. 

 

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LFP Ltd is directly authorised and regulated by the FSA under reference 452312. Registered Office: Owen House, Heathside Crescent, Woking, Surrey, GU22 7AG.
Registered in England No: 3569220 © Libra Financial Planning Ltd 2005