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Mortgage Hotline - Call Us 0117 313 7780

1.19% 2 Year Fixed 

  • Overall cost for comparison 3.5% APRC

Representative Example:Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to NatWest variable rate of 3.75%.

Call NatWest on 0800 158 2934

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

Let us help you find the best interest only remortgage deal

Compare the latest interest only remortgage rates:

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 0.99%
Rate type: Tracker 2 years
Monthly cost: £383.94 per month
Max LTV: 60%
Product fee: £2114.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 0.99% Tracker 2 years 3.4% APRC 60% £2114.00 £383.94 per month get quotes Call direct0117 313 7780
Initial rate: 0.99%
Rate type: Tracker 2 years
Monthly cost: £380.19 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4% APRC
Skipton BS logo 0.99% Tracker 2 years 4% APRC 60% £1061.00 £380.19 per month get quotes Call direct0117 313 7780
Initial rate: 1.04%
Rate type: Tracker 2 years
Monthly cost: £382.47 per month
Max LTV: 60%
Product fee: £1114.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 1.04% Tracker 2 years 3.4% APRC 60% £1114.00 £382.47 per month get quotes Call direct0117 313 7780
Initial rate: 1.19%
Rate type: Tracker 2 years
Monthly cost: £395.17 per month
Max LTV: 60%
Product fee: £2614.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 1.19% Tracker 2 years 3.4% APRC 60% £2614.00 £395.17 per month get quotes Call direct0117 313 7780
Initial rate: 1.19%
Rate type: Tracker 2 years
Monthly cost: £399.03 per month
Max LTV: 60%
Product fee: £3614.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 1.19% Tracker 2 years 3.4% APRC 60% £3614.00 £399.03 per month get quotes Call direct0117 313 7780
Initial rate: 1.2%
Rate type: Tracker 2 years
Monthly cost: £386.02 per month
Max LTV: 60%
Product fee: £66.00
Overall cost for comparison: 4% APRC
Skipton BS logo 1.2% Tracker 2 years 4% APRC 60% £66.00 £386.02 per month get quotes Call direct0117 313 7780
Initial rate: 1.25%
Rate type: Tracker Mar-2020
Monthly cost: £392.16 per month
Max LTV: 70%
Product fee: £1213.00
Overall cost for comparison: 4.1% APRC
Virgin Money logo 1.25% Tracker Mar-2020 4.1% APRC 70% £1213.00 £392.16 per month get quotes Call direct0330 057 1528
Initial rate: 1.29%
Rate type: Fixed Oct-2019
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1114.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 1.29% Fixed Oct-2019 3.4% APRC 60% £1114.00 £394.04 per month get quotes Call direct0117 313 7780
Initial rate: 1.29%
Rate type: Fixed Dec-2019
Monthly cost: £394.05 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.2% APRC
Skipton BS logo 1.29% Fixed Dec-2019 4.2% APRC 60% £1061.00 £394.05 per month get quotes Call direct0117 313 7780
Initial rate: 1.29%
Rate type: Tracker Feb-2020
Monthly cost: £394.03 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.29% Tracker Feb-2020 3.5% APRC 60% £1273.00 £394.03 per month get quotes Call direct0800 158 2934
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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

Our Interest Only Remortgage Service

If you are looking to remortgage on an interest only basis give our mortgage team a call on 0117 313 7780 or request a callback.

Why choose our mortgage service?

Fair Mortgages can provide you with a first class remortgage service. 

Special features of what we offer include:

  • Whole of market service - we work with over 60 UK lenders
  • Great Rates! - Access to leading market mortgage rates 
  • Exclusive Deals - exclusive mortgages not available on high street
  • Specialist lenders - who will lend in areas tht high street lenders will not
  • Fast turnaround - speak to us today if you need to move quickly
  • We have lenders who will take into account previous credit issues 
  • Looking to raise additional finance? - we have access to a range of innovative finance solutions

To investigate your interest only remortgage options call our specialist team on 0117 313 7780 or fill in our call back form. 

Right Bullets

What is an interest only remortgage?

An interest only remortgage lets you repay just the interest that’s owed each month on your remortgage, while simultaneously building up a savings plan or other repayment plan so that you can repay the remortgage capital in full the remortgage redemption date.

Advantages of an interest-only remortgage

There are several reasons why you might consider an interest only remortgage, some of which include:

  •  Lower repayments - The prospect of lower monthly payments can be an appealing option and could make a remortgage more affordable in the short term. Each month, you’ll pay out less than you would on an equivalent value repayment remortgage, because you are only repaying the interest, not the capital itself.
  • Potential extra cash - If your repayment vehicle does really well over the term of the remortgage, you could find that you can afford to pay off the capital with some extra cash left over.
  • Flexibility - Interest only remortgages can sometimes offer greater flexibility that repayment remortgages – for example, you may be able to make overpayments one month and just pay interest the next month depending on your cash flow.

Disadvantages of an interest only remortgage

While the monthly repayments you make on an interest-only remortgage are likely to be lower than with a repayment remortgage, there are some potential disadvantages to be aware of:

  • Compared with repayment remortgages, these deals are often more expensive in the long run – this is because the interest repayments will remain the same for the duration of the agreement because your capital is not reducing over the mortgage term.
  • You will still owe the amount you originally borrowed at the end of the remortgage term - you will need to have a repayment plan in place to pay back the full cost of the property at the end of the remortgage term.
  • There is a potential for risk with an interest only remortgage that isn’t present if you take out a repayment remortgage - if you do not have sufficient funds available to repay the capital in full at the end of the term, you may have to sell your property.
  • Interest only remortgages can lack security compared with other types of remortgage - This is one of the main potential drawbacks of an interest only remortgage. There is no guarantee that your repayment vehicle will perform well enough to ensure that you can pay off the remortgage in full at the end of the term.
  • Interest only remortgages can be harder to find – Interest only remortgages had a period of popularity in the 1990s and early 2000s, but UK lenders have tightened up their acceptance criteria for remortgages of this kind. Many remortgage providers won't lend on an interest-only basis, because of the risk of negative equity due to future falls in property prices. To qualify, you may need to be able to show that you have a particularly high deposit or equity, or a reliable means of repaying the remortgage already in place.

To compare top remortgage rates and find the best interest only remortgage deals for you, use the remortgage above calculator to search over 5,000 deals based on your personal circumstances.

To speak to one of our remortgage advisers and find out if an interest only remortgage deal could be the right choice for you, call us on 0117 313 7780 or request a callback.

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