Mortgages and mortgage advice, this is your route

  Home  |  About Mortgages  |  Sourcing Tools  |  Calculators  |  Key Facts  |  A to Z       Contact Us
You are here: Mortgage Route > Glossary A to Z > Letter I
 

The Mortgage Route A to Z
Interest only mortgage

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

Did this page help you?

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Letter I

Interest only mortgage

In contrast to Capital and Interest, an interest only mortgage is a loan for which requires only payments of interest to the lender during the term of the loan.

All mortgages other than capital and interest repayment loans are a form of interest only loan.
Some lenders will allow loans to be set up without any specific provision to repay the capital at the end of the period this is known as a pure interest only loan.

FSA declaration and important text about mortgage advice