Interest-Only Mortgages

Interest-only mortgages offer a lower monthly payment by covering only the interest on the loan. Popular with certain homebuyers and landlords, these mortgages can be suitable if you have a clear repayment strategy in place. At WIS Mortgages, we help you understand if interest-only is right for your circumstances—with no broker fees.

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Key Benefits

Lower Monthly Payments:

Pay only the interest each month, reducing initial outgoings.

Flexible Repayment Planning:

Ideal for those expecting future income, property sales, or investments to repay the loan.

Cash Flow Control:

Beneficial for high earners or those with irregular income who prefer to manage lump sum repayments.

Investment Leverage:

Commonly used by landlords or investors to maximise returns on rental income.

Fee-Free Expert Advice:

WIS Mortgages offers tailored support at no cost to you.

Eligibility Criteria and Requirements.

Who Can Apply?

Have a strong repayment strategy (e.g., savings, investments, downsizing, or sale of another property)
Are purchasing a residential or buy-to-let property
Have a larger deposit—usually at least 25% (more for residential cases)
Meet the lender’s income and credit criteria

What are the Requirements?

Proof of income (payslips or self-employment accounts)
Repayment plan documentation (e.g., investment portfolios, endowment plans, asset statements)
Deposit evidence
Deposit evidence
Photo ID and proof of address
Credit report access

Please note: Meeting these criteria does not guarantee mortgage approval. All applications are subject to underwriting and affordability checks by the lender.

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How the Application Process Work?

Applying for a mortgage through our service is straightforward

Book an Appointment

Book an appointment with one of our advisers to discuss your mortgage requirements. Be transparent about your situation so we make the whole journey much smoother for you.

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Download MortgagX app, fill in a few key details, select the recommended mortgage product, upload your documents and relax till we get your mortgage sorted.

Completion

Enter your new dream home!

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Processing times vary depending on lender efficiency and individual case complexity.

Important Information And Regulatory Disclosure

Risk Warning

Your property may be repossessed if you do not keep up repayments on your mortgage.

FCA Authorisation

This service is provided by WIS Mortgages, which is authorised and regulated by the Financial Conduct Authority.

Fee & Commission Disclosure

We act as a mortgage intermediary and may receive commission from lenders. A fee may be payable for mortgage advice, which will be disclosed clearly in advance.

Adviser Disclosure

This content is for informational purposes and does not constitute personalised financial advice. Mortgage advice will be provided after assessing your individual circumstances.

Frequently Asked Questions

Find answers to some of the most common questions about mortgages, applications, and our services.

These are mortgages where you only pay the interest each month. The capital (loan amount) must be repaid in full at the end of the term.

You make monthly interest payments, but none of the loan is repaid until the term ends—when you must repay it in full using an agreed strategy.

Yes. They are available, but lenders apply stricter criteria, especially for residential borrowers. Strong repayment plans are essential.

They can be, if you don’t have a reliable way to repay the capital. That's why lenders closely assess your exit strategy and financial position.

No. Only a limited number of lenders offer interest-only deals, and they usually have stricter criteria and higher deposit requirements.

Yes. Some lenders allow part-and-part mortgages, where a portion is interest-only and the rest is on a repayment basis.

You may be forced to sell the property, refinance, or convert to a repayment mortgage—so a solid repayment strategy is essential.

Rarely. Most lenders prefer experienced borrowers with strong incomes and larger deposits for interest-only deals.

Not through repayments—only through potential property value appreciation, since you're not reducing the mortgage balance.

Yes, subject to affordability checks. Many borrowers switch to repayment as income increases or retirement approaches.

Want to Talk it Through?

020 3011 1986 help@wismortgages.co.uk

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*Call us from Monday to Friday (9am to 6.30pm) and Saturday (9.30am - 3pm) We accept applications over the phone