skip to main content
Request a call back

Leave your contact details and one of our expert advisers will call you back shortly.

You can also complete our mortgage questionnaire for a more accurate initial response.

Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Menu
Archives

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

show more show less

Nationwide Building Society's ban on interest-only mortgages has come into force and all mortgage applications must now be taken on full capital repayment.

Nationwide Building Society''s ban on interest-only mortgages has come into force and all mortgage applications must now be taken on full capital repayment. It is not unusual for a lender to tighten their interest-only lending policy and ask for proof of a repayment vehicle, such as an ISA or an endowment policy, but Nationwide has gone one step further.

Aaron Strutt, a broker at Trinity Financial, says: Nationwide reported that less than 3% of their applicants requested interest-only and there is simply not the demand, but I think this is highly unlikely. There are still lenders offering interest-only particularly on larger loans. One lender we work with is happy to put half of the mortgage on pure interest-only and write annual overpayments into the mortgage contract.

October 12, 2012
Get in Touch

Get in touch

To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Need some advice today?

Book a Consultation Mortgage Questionnaire