Interest-Only Mortgages
Pay interest only each month and keep your capital repayment plan working in the background.
Why interest-only?
Interest-only mortgages allow you to pay just the interest each month, keeping your monthly outgoings significantly lower than a repayment mortgage. The trade-off is that you need a credible plan to repay the capital at the end of the term, known as a repayment vehicle. Use our [repayment calculator](/calculators/repayment) to compare interest-only and repayment costs side by side.
After the 2008 financial crisis, many lenders tightened their criteria for interest-only lending. Today, most require a minimum income, a substantial deposit (typically 25% or more), and evidence of a viable repayment strategy such as investments, savings, pension lump sums, or property sales.
At Clearview Mortgage Solutions, we know which lenders still offer competitive interest-only products and what repayment vehicles they accept. Whether you are a high earner looking for flexibility, a landlord, or approaching the end of an existing interest-only term, our advisers can find the right solution.
Key facts
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Your next moves.
The shortest path from where you are to a real mortgage offer.
Estimate your monthly cost and how much you could borrow with our interest-only calculator.
Open calculatorRun the numbers.
Read the guides.
Explainers covering deposits, schemes, the application, and what lenders actually look for.
Guides about Interest-Only mortgages
A guide to interest-only mortgages
How interest-only mortgages work, who they suit, and what you need to know before applying.
ReadInterest-only repayment strategies
The different repayment vehicles lenders accept and how to build a credible plan to repay the capital.
ReadSwitching from interest-only
What to do if your interest-only mortgage is ending, including switching to repayment, extending the term, or selling.
Read
Frequently asked.
Common repayment vehicles include investments and ISA portfolios, pension lump sums, the sale of property, endowment policies, and regular savings. Most lenders also accept combination strategies using multiple sources. The key requirement is that your plan is credible, documented, and has a reasonable chance of producing the required sum by the end of the term.
Talk to a specialist.
interest-only mortgages have their own quirks. Our CeMAP-qualified advisers compare 90+ UK lenders and explain how each one applies to you — no obligation.
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