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Can I get an interest only mortgage?

Q: Hi, I have a property in London with about 25% equity (£110K). I want to keep it and move to Yorkshire. I need a mortgage on interest only (as I am in sales and 6 monthly bonuses) for £666K on property valued at £895K but purchase price agreed is £835K w

A:

It may be possible to achieve this depending on your circumstances and those of the property. Generically a maximum of 75% is available from mainstream lenders on an interest only basis, however 80% may be achieveable if you are suitable for a private bank or if the purchase incentive can be taken into account. I have emailed you separately and please feel free to contact me in confidence to discuss your circumstances further.

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