Dan Donaldson

Independent Mortgage Broker

Tel: +44 (0) 7702 673 561

dan@dandonaldson.co.uk

Interest only

The interest only mortgage market has changed dramatically since 2008 and whilst changes needed to be made, there is still an important place in the market for interest only lending. Gone are the days of 90% loan to value interest only mortgages with no method of repayment other than the mortgaged property. You now need to fit the right profile in terms of income and assets and have a clearly defined strategy to repay the mortgage at the end of the term. The strategy can still be to trade down, as long as you can demonstrate that you have sufficient equity at outset to trade down to a suitable property in the area.

For those who have time on their side, a long repayment term can often be a viable alternative to an interest only mortgage. Dan Donaldson will assess your circumstances, discuss your short and long term goals and make a recommendation to meet your needs.

We can help you get the finance for the property you deserve

Daniel Donaldson is a mortgage broker at Daniel Donaldson Mortgages.

Daniel Donaldson Mortgages Limited is registered in England and Wales. No. 08429969. Registered Office: Beaufort House, 113 Parson Street, Bristol, BS3 5QH. Daniel Donaldson Mortgages Limited is an Appointed Representative of Cornerstone Finance Group Ltd, which is authorised and regulated by the Financial Conduct Authority. Cornerstone Finance Group Ltd is registered in England & Wales. No. 08458702. Registered Office: Unit E Copse Walk, Pontprennau, Cardiff, Wales, CF23 8RB. Daniel Donaldson Mortgages Limited (No. 1044642) and Cornerstone Finance Group Ltd (No. 767202) are entered on the Financial Services Register at https://register.fca.org.uk/ Your home may be repossessed if you do not keep up repayments on your mortgage. The views and comments expressed on this website are those of Daniel Donaldson. This is for information purposes only and should not be constituted as formal advice