There were 541,000 pure interest-only mortgages outstanding at the end of 2024, 18.5% fewer than in 2023.

The lender’s interest-only proposition will comprise three phases, the first of which launches today to intermediaries on its panel.

Rates across the Society's interest-only range are down by up to 0.16%.

Interest-only mortgages could become a thing of the past by 2039, the research shows.

The Society has also launched new interest-only products for loans over £500,000.

Loughborough Building Society has strengthened its lending in retirement proposition by increasing the maximum loan to value (LTV) to 70% on interest-only mortgages that extend beyond...

The Society has also announced enhancements to its joint borrower sole proprietor criteria.

Nationwide is also removing the requirement for these applicants to provide at least 25% of the total deposit from their own resources.

The lender has also increased the maximum LTV for small MUFBs to 75%.

Interest-only and part-and-part mortgage product ranges will benefit from the increase.