YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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You may consider an Interest Only mortgage to repay your loan as it may offer a more flexible way of managing a loan whether you are an individual, or a landlord.

 

Interest Only Mortgages allow for a lower monthly repayment of the loan compared to conventional mortgages, however, the amount outstanding to the lender at the end of the term will remain the same as when the loan was first taken out (ie, you are paying only the interest of the loan each month), and would need to be repaid as with a typical repayment mortgage.

 

Please note that your property may be repossessed if you do not keep up repayments on your mortgage.