Many of our clients are still keen to secure interest-only mortgages and these are still available through Trinity.
The financial regulator has made it clear that lenders are allowed to offer interest-only, but there needs to be a creditable strategy for repayment.
Typically, Trinity Financial regularly arranges interest-only mortgages for clients with a 25% deposit or a significant amount of equity in their property.
An interest-only mortgage is now more of a niche product, although some lenders are still keen to offer them.
A number of banks have improved their interest-only criteria to attract wealthier borrowers, although this type of finance can still be difficult to qualify for.
Clients will typically need to regularly pay into an ISA or pension fund that will generate enough income to repay the mortgage. However, if you already have buy-to-let properties, you may also be able to use them as a repayment vehicle.