ICS Mortgages is launching a new mortgage product offering a two-year interest-only period, aimed at first-time buyers and those looking to switch. This will allow borrowers to reduce their initial monthly payments significantly, making home ownership more accessible. Following the initial period, payments will switch to capital and interest repayments. With rates starting at 4.25%, this product aims to support borrowers especially in light of previous financial vulnerabilities tied to interest-only mortgages during economic downturns.
By deferring standard capital repayments for the first two years, borrowers can benefit from reduced monthly outgoings in the first two years, before transitioning to full capital and interest repayments.
The new two-year interest-only option will be attractive for all borrowers and in particular first-time buyers.
Collection
[
|
...
]