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Interest Only

In the UK, there are many Interest only mortgages currently held by existing borrowers. Yet interest only mortgages have had negative press in recent years, mainly due to borrowers being affected by shortfalls on the performance of investments such as endowments. 

For these borrowers putting all or part of the mortgage on repayment is a possible solution, many lenders have entered the market with 'part interest only' and 'part repayment' mortgage products.

Apart from this, however, there are often many good reasons to consider taking a residential mortgage on a pure interest only basis. Below are a few scenarios

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MyMortgageDeal.co.uk is a trading style of Simon Murphy who is an appointed representative of Julian Harris Mortgages Ltd authorised and regulated by the Financial Conduct Authority No.304155
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website www.financial-ombudsman.org.uk  . Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.