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Interest Only

INTEREST ONLY

Interest only mortgages are a useful way to reduce mortgage payments; because only the interest is repaid over the mortgage term. The capital is repaid with either savings, investments, pensions or the sale of the property at the end of the mortgage term. If applicants have insufficient funds to pay off the loan at the end of the mortgage term, then the property must be sold. The interest rate chosen can be variable or fixed. Those lenders that offer interest only mortgages generally restrict the loan to value; and require minimum levels of equity and income. Our mortgage specialists can help. We have access to the whole of the mortgage market, meaning that we can help you to find the best mortgage to fit your budget. We can help you to assess what you can afford and what you can borrow. We can analyse your repayment method so that you can be confident that the mortgage you choose is right for you.

Step towards a new property…

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How we consult with you

We are always available to update you and answer your questions quickly and easily. Office based, our service is all about delivering high quality advice and information at times to suit you. Most of our clients like to contact us during normal office hours; but where this is not possible, we are always happy to find a suitable time. We never meet some of our clients face to face because it suits them to conduct all dealings over the telephone and via email.

If our customers are at the beginning of a property search our dialogue could continue for several months. We start with a discussion that helps us to understand your circumstances and requirements. After that we are able to start providing information on suitable products. We normally do this via email.

Whether you require an update on rates or an urgent decision in principle, we are on hand to help. We pride ourselves on being very responsive to our clients’ needs.

When dealing with the banks this is not always straightforward, so we collect everything required from you and liaise on your behalf with the lender until the mortgage offer is produced. Our sole objective is to get you what you want in the most painless way possible. Finding the right mortgage product is one thing but getting a mortgage offer is altogether different. And this is where we really add value.

We have the skills, tools and experience to help whether you wish to refinance an existing mortgage, are buying a new home or an investment property.

… always on call to answer any questions I had. A very painless experience, will definitely use again when I come to re-mortgage.

MRS WANDLESS, LONDON

Marchwood has done an excellent job for me as they have researched the market to meet my requirements, explained clearly the features of each mortgage and made recommendations. They have helped me with buy to let and main residence mortgages. The have ultimately saved me a lot of money and the provider paid them a commission so their services were at no cost to me. I highly recommend them.

MRS FRANCO, LONDON

I was really impressed by the speed and quality with which my mortgage application was handled. You were very flexible and helpful throughout the process. Highly recommended!

MR WILLIAMS, LONDON

I have never used an IFA before and, I suspect like many people, was daunted by the erroneous belief that it would be an expensive service to use. It was a delight to find your modest fees were in fact taken care of by the building society. To me you were an expert and free service! Top marks for everything you did.

MR RIDER, TITCHFIELD

How we charge - no unnecessary fees

For most mortgages we arrange we rely solely on the commission paid to us by the lender and charge no fees to you whatsoever. This commission is declared in all the illustrations we produce and typically ranges from 0.30% to 0.45% of the mortgage loan.

On occasion it is necessary for us to charge a fee for our professional services alongside the commission paid by the lender. This is normally because the mortgage loan is too small to generate sufficient commission or because the complexity of the mortgage finance merits the additional fee. Typically; this fee can range from £195 to £495. The fee will be discussed and agreed with you from the moment we start work on your behalf.

Some firms say that the only way to get high quality service is to pay for it. We do not agree and do our best to provide the best possible service without the need to charge any additional fees. Our experience tells us that our clients use other services we offer and recommend us to friends and colleagues, which helps us to grow business through recommendation.

Your home may be repossessed if you do not keep up mortgage payments.