Planning for the future
Interest only mortgages allow you to afford your dream home by only paying the interest for a set period.
Lower short-term costs mean you can afford the perfect home for you whilst also having the flexibility to invest your savings elsewhere.
- Lower monthly costs than standard mortgages
- Best suited for buyers with a clear end-to-end payment strategy
- Ideal for scenarios where a capital event is planned
Application process
Designed to be as straightforward as possible, here’s how the application process works:
1. Initial consultation
Speak to our team about your needs and determine the most suitable financing option
2. Documentation
We’ll guide you through the documentation you’ll need depending on the type of loan and your business structure.
3. Approval & funding
Once your application is complete, we’ll review and finalise the terms, and provide a clear timeline for approval and funding.
Apply today by getting in touch via email or mobile.
FAQs
Everything you need to know about interest only mortgages.
With an Interest-Only Mortgage, your monthly payments during the interest-only period cover only the interest, not the principal, resulting in lower payments compared to a standard repayment mortgage.
You’ll need a plan to repay the principal at the end of the term (e.g., through savings or property sale).
At the end of the term for an Interest-Only Mortgage, you must repay the full mortgage balance, as monthly payments only cover the interest.
You’ll need a repayment plan (e.g., an endowment policy, investment account, or property sale proceeds) to settle the loan.
To apply for an Interest-Only Mortgage with Gibraltar International Bank, you’ll need:
– Proof of income (payslips from the last 3 months, employment contract, or tax returns).
– A valid ID (passport, driving licence, or Civilian Registration Card).
– Property details (purchase agreement and property address).
– 6 months’ bank statements for all active accounts.
– Proof of savings (e.g., bank statements showing savings).
– Proof of repayment vehicle (e.g., endowment policy, savings, investment, or pension fund statement).
Apply in person at our branch at Ince’s House, 310 Main Street, Gibraltar GX11 1AA, or call +350 200 13900 or send an email to FOlending@gibintbank.gi to schedule an appointment.
For more details, visit www.gibintbank.gi/mortgages/interest-only
Yes, you can switch from an Interest-Only Mortgage to a standard repayment mortgage with Gibraltar International Bank.
This involves adjusting your repayment plan to include both interest and principal, which may increase monthly payments.
Contact us to speak to one of our Mortgage advisors on +350 200 13900 or send an email to lending@gibintbank.gi to schedule an appointment.