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Definition of low-start mortgage in English: low-start mortgagenoun British A mortgage in which the borrower repays only the interest for a specified initial period. if your income is likely to be rising then you may select a low-start mortgage Example sentencesExamples - The cost of a low-start mortgage eventually catches up and overtakes the cost of a 'regular' mortgage.
- This is a low-start mortgage with monthly repayments increasing annually in the first ten years.
- He noted that an important feature of the Low Start Mortgage is that everyone will be able to meet the repayment strategy.
- I spent a couple of days considering the options, cancelling all pension contributions, and taking out a renewed 30-year low-start mortgage.
- Special low start mortgages rate offers, 2-year fixed deals, and mortgages that allowed borrowers to roll up credit card and other debt with home loans abounded.
- If you borrow £150,000 on one of these low-start mortgages (25 years), at 3.19 per cent up to 75 per cent loan-to-value, you need to work out how the numbers stack up.
- Based on its research findings, the bank has put together a package for first-time buyers that includes flexible repayment options, including deferred start mortgage and low-start mortgage.
- Other products include a 'low start mortgage' for couples who get divorced, which offers stepped monthly payments which are kept at low levels for the first two years.
- Low Start mortgage tempts borrowers with cheap interest-only fix, but a sting in the tail sees payments rocket after three years.
- Borrowers taking the Low Start Mortgage will have an initial 3-year fixed rate on interest-only terms with affordability based on capital and interest to ensure payments are sustainable for the life of the loan.
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