When you have an interest only mortgage, your monthly payments only pay the interest charged on the amount you borrowed.
This means the interest only balance doesn’t reduce and you’ll need to have separate plans to pay this amount by the time your mortgage ends.
If you haven’t repaid your interest only balance yet or you don’t have enough to repay it in full, we’ll help you understand your next steps.
The sooner you talk to us, the more options you may have so call us today.
Call us on 0345 609 8951
Our lines are open Monday to Friday 8am to 8pm and Saturday 8am to 1pm.
Use our calculator to see how overpaying on an interest only mortgage can save you money. You could reduce your mortgage balance and the amount of interest charged.