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Interest Only Mortgages
To 80% Loan to Value
No Maximum Age
Sale of Property Considered
To 90% Part and Part
No Minimum Income or Equity
Step 1
Enquire Online
Step 2
Speak to an Advisor
STEP 3
We'll arrange the mortgage
Step 1
Enquire Online
Step 2
Speak to an Advisor
STEP 3
We'll arrange the mortgage
Interest Only Mortgages
Some of our clients wish to pay their mortgage on an interest only basis, whereby they pay the interest every month on the mortgage they owe, however they do not pay anything off the balance of the mortgage itself.
This is different to a repayment mortgage (often called a “capital and interest” mortgage), where both the interest is paid each month plus a small amount is also paid off the mortgage balance, with the aim of reducing the balance to £0 once the mortgage ends, as long as you make all of your payments on time and in full.
The benefit of an interest only mortgage is that they typically offer lower monthly payments than a repayment mortgage as you are only paying the interest.
Additionally, if you wish to take a mortgage out over a shorter period than the standard 25 years (called the mortgage term), such as 5 years, then the payments on a repayment mortgage could be very large as the entire mortgage balance would have to be paid back over the 5 year period. With an interest only mortgage, the mortgage term does not affect the monthly payments as you are paying only the interest and nothing off the mortgage balance itself.
Capital Fortune are a blessing…I feel like I’ve got the best rate on the market and a very personable and friendly service.
Reuben, South London, SE27
They usually have a healthy deposit for a purchase or significant equity to undertake a re-mortgage. They find it difficult to understand why many lenders may not consider their individual circumstances and they want to ensure when choosing an interest-only mortgage they get it right. Clients often tell us they cannot understand why they are finding it difficult to obtain an interest-only mortgage when they have a feasible plan to repay it at the end of the mortgage term. Some inform us they have already been declined by a lender as they just don’t “tick all the boxes”. They may have spoken to a number of brokers without success, before making contact with us.
They arranged a re-mortgage for us…. which was unusual and certainly must have been difficult. It went through smoothly, more smoothly than any other mortgage I’ve taken out.
RH, Stanmore
Our mortgage advice service is based not only on knowing all the mainstream UK lender’s criteria but also our ability to access available interest only products from private banks and bespoke lending solutions. Such lenders can often provide more competitive deals and are willing to take a more holistic approach to the finance rather than just relying on computers to make lending decisions. Using our comprehensive panel database, we will quickly advise you whether a private, mainstream UK bank or building society or international bank is best suited to your meet your individual needs and requirements.
We are now on our second mortgage with Capital Fortune and recommend them to friends and family.
EHB, London
As a comprehensive panel of lenders broker in this area, we know our lenders and lending criteria. Importantly, we appreciate the ambiguities and difficulties in this area of UK lending and work to provide an appropriate solution. We regularly assist clients with mainstream and complex finance and we are UK specialists in arranging mortgages for clients with non standard requirements.
We have been voted the Overall Adviser of the Year for the largest UK mortgage and protection network, two years in a row and have recently won a national industry award for Excellence in Treating Customers Fairly. A number of our clients watched us on BBC TV Newsnight and supported our shortlist nomination for Best Broker Prime and Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards and British Mortgage Awards respectively.
There are three stages to our award winning process:
1
Indicative Rate
Typically clients using the service, tell us they want to discuss their current situation and take us through any difficulties they may have. We can quickly give an indication as to the feasibility of what they are looking to do, undertake detailed research on the potential rates, confirm we can safely assist and importantly, express how we operate.
2
Approval in Principle
This stage involves completing a 45 minute Mortgage Fact Find questionnaire over the phone to fully assess needs and requirements. Once complete, we undertake research across a comprehensive panel of lenders to recommend the right mortgage. A detailed illustration is provided which we will take you through. If you are happy with the illustration we will then request documents from you to support the application. On receipt of the documents we will obtain formal approval in principle from the lender.
3
Mortgage Application
We will apply for the mortgage on your behalf, submit the necessary documentation and liaise with the lender to obtain your mortgage offer.
We still appreciate however, we are not right for everyone and typically we best assist clients
With non-standard/non-traditional requirements;
That are time pressed and need the most competitive and quick results; or
That just need an independent guiding hand through the minefield of products to obtain them the most competitive deal and to assist them through all the complexities within the mortgage process.
We pride ourselves on delivering advice which is accurate, tailored to your situation and fully compliant with Financial Conduct Authority (FCA) guidelines and best practice.
For help and assistance, call us today on 0207 710 0400 to speak to one of our Mortgage Advisers.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Rates are updated daily and can be withdrawn at anytime without notice by lenders.”
Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Commercial Mortgages and some forms Buy to Let mortgages are not regulated by the Financial Conduct Authority.
Brilliant Team
By: Alistair Bates
James and the whole team where absolutely fantastic. My case was not straightforward, however, they ....
For service - Mortgage to assist with: REASON_BTL_REMORTGAGE
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