Not the case though. In fact, not that scary at all! Not for everyone though so it is important to be able to make an informed choice.
An interest only mortgage is actually a very common choice for an investment property or a second property where it is ok that the balance won’t decrease over time. With an interest only mortgage your monthly payments are just that – interest which means you will still owe as much at the end of the term as you do at the start.
With this in mind, interest only isn’t usually suitable for your main residence. In fact, a lot of lenders criteria leads you away from it unless you have a proper plan in place to repay the mortgage at the end of the term. When we go through the mortgage process with you we will look at your repayment options to make sure it suits your needs, whatever they may be.
No, an endowment is just one type of repayment vehicle that can be used. There are lots of others to choose from and you can sometimes even use the sale of the property. This would only be suitable though if you have enough equity to down-size or if it is not your main residence.
In most cases yes, this will mean making overpayments. Most lenders will allow this up to certain limits, some lenders have slightly different rules on this though so be careful to check.
Whether you are thinking about taking the plunge with your first one or adding to your multi-million-pound portfolio, we are experienced and knowledgeable when it comes to the ever-changing buy to let market place.
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💷 Are you prepared for all the fees and costs of moving?
There are more as a second time buyer!
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Find out more about what to expect as a second time buyer in our blog this month, link in the bio 👆
(Picture of our dog just because! 😍🐶) #mortgagehelp #mortgagebroking #mortgagetip #mortgagehelpers #banbury #Oxfordshire #officedogsofinstagram
🔥🏡 Our latest blog is here! And written especially for
𝘀𝗲𝗰𝗼𝗻𝗱 𝘁𝗶𝗺𝗲 𝗯𝘂𝘆𝗲𝗿𝘀 – all about the process of moving on from your first home and buying your next one. How is this different to being a first time buyer? Find our more in this month's blog, link in the bio 👌
#mortgagehelp #mortgagetip #mortgagehelpers #secondtimebuyers #mortgagebroking #oxfordshirebusiness #oxfordhsire
Who else goes combine hunting in the summer? It’s all for the kiddies obviously 🙄😏
Happy #internationaldogday !! 🐶 Dotty our office just wouldn't be the same without you! 💕
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Whats your dog up to today?
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#officedogsofinstagram #officedoggies #banburybusiness #mortgagehelp #mortgagetip #bestmortgagebroker
#oxfordshire
#stalbans
Wonder what deposit we would need to secure a mortgage on this modest home then?!
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#warwickcastle #warwick #staycations #mortgagehelp #mortgageadvice #mortgagebroker #localmortgagebroker
#timeoffwork
Friday out with our @maxwellsestateagent team 👌🙌 Dare we say it, it feels like old time 🍻🥂🍤🍣🙌
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We're at the lovely @zushibanbury have you been here? We're loving it 👌
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#outout💃
#workdo #mortgagehelpers #mortgagebroking #localestateagent #banburybusiness #banbury
What a weekend for Matt to be at #silverstonef1 🏁🏎🍾🥵🏁🏎🏆
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What a race, what a result!? (If you're #hamilton fans like us!)🏁👌 LOTS to catch up on tomorrow!
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#f12021 #takingonefortheteam #localmortgagebroker #protectionadviser #silverstonegp
Blimey it must be serious if I'm in a football shirt 🏴⚽️🙌🤣🤣
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C'MON ENGLAND!!!⚽️🏴⚽️🏴⚽️
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#euros2021 #itsthefinal #england2021 #footballscominghome #localmortgagebroker
Are you self employed like us? Which best describes you?
✅ Company director?
✅ Sole trader?
✅ Contractor?
✋🏼 Don't make the mortgage mistakes that the self-employed can fall into so easily!!
See our dedicated webpage (link in the bio) on exactly how to avoid them.
#selfemployed #contrator #soletrader #mortgaged #mortgagebroker #mortagetip #selfemplyedtips
YAAAAAAS!!!🏴🏴🙏💗🎉🎉🎉⚽️⚽️⚽️⚽️⚽️⚽️⚽️⚽️⚽️⚽️⚽️⚽️
I don't know about yours but our house was complete madness 🤣
#comonengland #euros2021 #supportingengland #weneededthis
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© 2019 Vantage Mortgages Ltd is an Appointed Representative of PRIMIS Mortgage Network which is a trading name of Personal Touch Financial Services Limited. Personal Touch Financial Services Limited is authorised and regulated by the Financial Conduct Authority. Vantage Mortgages Ltd is registered in England & Wales.
Company Number: 11754334.
Our typical fee for our service is £500.
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