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When applying for an interest only mortgage, you will need to have a clearly understood and credible repayment strategy in place to repay this.
All repayment strategies will be subject to approval by our mortgage underwriters.
This means that you will repay part of the mortgage balance as repayment and the other part as interest only.
This will reduce your mortgage balance at the end of your term, although you will still have an amount of the capital to pay back.
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Every care has been taken with the preparation of these sales particulars, but complete accuracy cannot be guaranteed.
You will need to have a clearly understood and credible repayment strategy* in place to repay the amount borrowed at the end of the mortgage term.
It is possible to split a mortgage between two repayment methods, interest only and repayment (capital and interest).