
Have the house you want, rather than the one you can afford with an interest only mortgage; pay off the interest for the first few years then pay off the actual mortgage when you are in a better position to do so.
As a UK interest only mortgage means lower monthly repayments you can use the extra cash for things like decorating or furnishing your new home, especially helpful if you are a first time buyer
However it is important to make some kind of provision for when the interest only period ends. Generally the best way to do this is through some kind of investment.
To discuss the best option for you, complete a call back request form and a MoneyClick adviser will be able to assess your needs and find the best UK interest only mortgage rate for you.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.