Our best interest only mortgage deals

Although you’ll still need to pay the balance at the end of the term, this type of mortgage allows you to pay off just the interest on the amount you borrow each month.

Browse our selection of some of the most competitive interest-only mortgage deals.

Bear in mind
Your home could be repossessed if you don't keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Any savings will vary depending on personal circumstances.

Current interest-only deals

The following deals are based on securing a mortgage of £181,600 on a £227,000 property (that's 80% loan-to-value) over a 25 year term.

We’ve searched for the most competitive deals according to true-cost. This includes capital and interest repayments, fees, and incentives due over the initial period of the deal, and is a more effective way of comparing deals than looking for the lowest interest rate deal.

2 year fixed deal (first-time buyer)


True cost over initial period:
£6,769.72

Monthly payment:
£230.03

Upfront fee:
£1,249.00

Initial rate:
1.52%

Standard Variable Rate (SVR):
5.74%

Annual Percentage Rate of Charge (APRC):
5.40%


Based on securing a mortgage of £181,600 over a 25 year term. Reverts to SVR after initial 25 month period, costing £868.65 per month for 275 months. Total amount payable is £427,618.50 including interest and fees. True cost based on a 24 month period. This deal was last updated on 1st March 2019.

2 year fixed deal (remortgage)


True cost over initial period:
£6,519.72

Monthly payment:
£230.03

Upfront fee:
£999.00

Initial rate:
1.52%

Standard Variable Rate (SVR):
5.74%

Annual Percentage Rate of Charge (APRC):
5.40%


Based on securing a mortgage of £181,600 over a 25 year term. Reverts to SVR after initial 25 month period, costing £868.65 per month for 275 months. Total amount payable is £427,368.50 including interest and fees. True cost based on a 24 month period. This deal was last updated on 1st March 2019.

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Bear in mind
Your home could be repossessed if you don't keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Any savings will vary depending on personal circumstances.