Lump Sum Interest Roll-up options
With these products you don't need to make any payments through the life of the mortgage. Instead, the interest and any charges, are added to the loan each month.
The minimum amount that you can borrow is £10,000, however the maximum amount will depend on your age, house value and whether you're borrowing as a single or joint applicant. You may also be able to select to borrow a greater amount, however this may impact the interest rate that you will be charged.
Finally, the mortgage will normally be repaid when your home is sold, usually following your death or when you move into long-term care (or in the case of joint borrowers, when the surviving partner dies or moves into long-term care). The amount that will be repaid will consist of the original loan amount, plus any accrued interest or charges. Any remaining equity in your property will belong to you or your estate.