If you took out a £200,000 interest-only mortgage over 25 years charging a 2.5% interest rate, then you’d pay £417 a month and £125,055 over the mortgage … All other enquires : 01 – 5180030, Based on the information you have provided, we estimate that you can borrow up to €0. Variable LTV < = 50% Buy-to-Let Capital and Interest Mortgage Fixed rate repayment is applicable for the fixed rate period only. Whether you are an established landlord or this is your first Buy-to-Let property, we know it’s important for you to make the right investment decision. Shows the cost per month and the total cost over the life of the mortgage, including fees & interest. Compare our best interest only mortgage deals here. © Copyright ICS Mortgages 2021. The rates quoted are effective from 4th September 2019. Moratorium or Interest Only Request Interest rate: 4.75%. This means that the loan itself isn’t repaid over time, but will still need to be repaid in full by the end of the mortgage term or sooner. A payment moratorium may result in a short fall in your mortgage protection cover. Our Pension (Unit Trust) Mortgage is only available through Pension Advisers and ICS Mortgages Intermediary channel. An interest only mortgage is where your monthly payments only cover the interest charged on the amount you borrow and you don't pay off any of the loan amount. Is An Interest-Only Mortgage Right For Me? During the term, you only pay interest and don’t make any repayments. Enquiries. Maximum term: 15 years. Established in 1864, ICS Mortgages is one of Ireland’s leading mortgage brands. After the fixed rate period, the prevailing new business LTV variable rates apply to the mortgage amount; this rate will be determined by the Loan to Value at initial drawdown. The maximum LTV we will currently consider lending on interest-only mortgages is 75%. You will need to consider how you pay off the loan at the end of the agreed term, for example, an investment portfolio or selling a second property ; I’m ready. Fixed term mortgage – take comfort in knowing it will be paid off at the end of the term; A range of options available, you might want to pay a part off the loan each month so it’s fully repaid by the end, or choose to pay only interest each month and you then repay the amount you’ve borrowed at the end of the agreed term Maximum loan-to-value: 60% The mortgage calculator allows you to calculate repayments or estimate the likely extent of any loan which may be available to you, please note that such quotation is for illustrative and guidance purposes only, is non-binding and is subject to change. The history of interest-only mortgages . Fixed-Rate Interest-Only Mortgage. Our Buy-to-Let Mortgage is available to new and existing property investors looking for a flexible and tax-efficient mortgage. WARNING: The cost of your monthly repayments may increase. New business: 1890 427 427 Existing business enquires: 1890 542 542 ... 15 year Interest only 25 year Capital and Interest 35 year Flexi-Mortgage. Broker Enquiries Download our Mortgage Arrears Resolution Process. Dilosk - ICS Mortgages ... Our mortgages are available to individuals, companies and Pension (Unit Trusts). New business: 1890 427 427 Existing business enquires: 1890 542 542 Broker Enquiries ... (1 to 10 year Interest Only option with the remaining term on Capital & Interest up to 35 years) Can I get an interest-only mortgage with bad credit? Interest-only mortgages carry more risk than traditional mortgages because they don’t result in you gaining more equity in your home.With every payment on a traditional mortgage, you’re owning more and more of the property yourself, as opposed to it being owned with borrowed money. 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