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What is your mortgage for?

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1.22% 2 Year Fixed 

  • Overall cost for comparison 3.80% APRC

Representative Example:Mortgage of £120,000 on property valued at £200,000 over term of 25 years.Rate fixed for 2 years after which reverts to Post Office variable rate of 4.24%.

Call Post Office on 0808 179 6813

2.29% 5 Year Fixed 

  • Overall cost for comparison 3.90% APRC

Representative Example:Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Yorkshire Bank variable rate of 4.70%.

Interest Only ReMortgage Calculator

Need remortgage quotes tailored for your circumstances? Use our mortgage calculator to get an indicative quote of the interest only remortgage deals available - For a bespoke quote taking into account all your requirements and your current borrowing status complete our enquiry form or talk to our remortgage team today on 0117 332 3389 (8.30am to 6pm Monday to Friday).

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.17%
Rate type: Fixed Aug-2019
Monthly cost: £390.48 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.17% Fixed Aug-2019 3.8% APRC 60% £1720.00 £390.48 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.17%
Rate type: Fixed Aug-2019
Monthly cost: £390.48 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.17% Fixed Aug-2019 3.8% APRC 60% £1720.00 £390.48 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.27%
Rate type: Fixed Aug-2019
Monthly cost: £393.21 per month
Max LTV: 75%
Product fee: £1220.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.27% Fixed Aug-2019 3.8% APRC 75% £1220.00 £393.21 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.27%
Rate type: Fixed Aug-2019
Monthly cost: £393.21 per month
Max LTV: 75%
Product fee: £1220.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.27% Fixed Aug-2019 3.8% APRC 75% £1220.00 £393.21 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.35%
Rate type: Fixed Aug-2019
Monthly cost: £396.95 per month
Max LTV: 75%
Product fee: £1220.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.35% Fixed Aug-2019 3.8% APRC 75% £1220.00 £500 cashback £396.95 per month get quotes Call direct0808 178 6813 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Interest Only Remortgage Calculator

Our Remortgage Service - helping you make the right decision

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

Right Bullets

With an interest only remortgage your monthly payment only covers the interest charged on your mortgage, so you could benefit from lower repayments in the shorter term.

However, because you’re not actually reducing the mortgage balance itself, it’s essential to research the interest only mortgage market carefully before making a decision – our free interest only mortgage calculator compares over 5,000 different mortgage deals instantly to help you choose.

How does an interest only remortgage work?

With interest-only mortgages you only pay the interest due on the amount you borrowed each month. While this can mean lower monthly payments than would be required for a standard capital and interest repayment mortgage of equivalent value, it does mean that you will still owe the entire capital that you originally borrowed at the end of the mortgage term.

How is an interest only mortgage repaid?

Lenders require that you have a repayment plan or strategy in place if you want to take out an interest-only remortgage. You must be able to show the lender how you can repay the mortgage at the end of the term when taking out an interest only mortgage.

Usually, you will need to have a method of repaying the capital at the end of the mortgage – known as a repayment vehicle – in place when the mortgage term begins. Examples of repayment vehicles include:

  • stocks and shares ISAs
  • pensions
  • investment bonds
  • shares
  • unit trusts
  • endowment policies
  • other properties or assets

Whatever the repayment plan you have in place to pay off the capital on your interest only mortgage, it’s important to review it frequently. To ensure you are getting the best deal, use the interest only mortgage comparison tool above to see the latest interest only mortgage deals and offers.

Call our mortgage team on 0117 313 7780 or Request a Callback.

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