Interest Only Mortgage
Interest Only mortgages may be attractive to those whose net worth is substantial and to clients who are sure of their ability to pay back the capital when required. No savings plan is required for additional collateral as we take a first charge on the French property. You will only be required to pay back the interest and the insurance throughout the duration of the loan. The capital is to be paid back in one lump sum at the end.
Fact Sheet
- Minimum amount
- 100 000€
- Maximum amount
- No Maximum
- Duration
- 7 years
- Loan-to-value
- 75%
- Product
- Variable rate
Advantages
- No underlying savings vehicle as guarantee; you can keep intact your investments
- Outgoings considerably reduced since you will only be paying the interest and the insurance each month
- A deferred payment period is possible subject to conditions
- You can convert the mortgage into a repayment mortgage with a classic fixed rate for the remaining term
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.