For many of us who took out a Mortgage in the 90’s the end of the term is coming. For some, this is a cause for celebration as they will pay their final mortgage payment but for others who took out an interest only mortgage, it can be a worrying time.
If you have an Interest Only mortgage, your monthly payments have simply been paying the interest but have not reduced your loan balance (unless you have been making overpayments to purposely reduce the balance of your mortgage). This means that at the end of your agreed mortgage term, you need to repay your loan in full. Hopefully you have a plan in place but if not the sooner you act the better.
Fortunately there are options available but of course the longer you leave it and the older you get so the options reduce. At Mortgage Required we are experts in both Standard Residential Mortgages and Equity Release.
There are now also “hybrid” deals for those applicants who find themselves too old for a standard mortgage and too young for Equity Release. This means we can discuss the whole market and find the best product for your individual needs.
For a free appointment just click here or give the team a call 01628 507477.
Download our Free First Time Buyers Guide
Recent posts
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
A welcome change in school is coming as financial literacy is due to become compulsory in schools in England.
The Government has announced that as part of the new national curriculum, children in primary and secondary education will be required to learn about budgeting, compound interest, managing money, and mortgages.
The top 10 most beautiful villages in the world
19 days ago
Forbes has published a global ranking of stunning locations and one popular picturesque corner of the UK has nabbed top spot.
Over three years after the Mini-Budget took place, we look at what the mortgage market looks like now, showing the difference in mortgage repayments.
The government has announced plans to make buying or selling a home cheaper and quicker with what is being called the “biggest shake-up to the homebuying system in this country’s history.”
More borrowers using equity release
1 Oct 2025
Almost one in five equity release mortgages are now taken out to provide financial support to family.
Buyers purchasing properties sooner
29 Sep 2025
According to industry data, the expected wait for those looking to buy a property has dropped from just over 11 months to less than six months.
It is common for your first mortgage payment to be higher than your subsequent monthly payments for two reasons.
More information
Trusted by
