Property owners can choose if they wish to have the loan on an interest only or repayment basis. With an interest-only mortgage, your monthly payment pays only the interest charges on your loan, not any of the original capital borrowed.
This means your payments will be less than on a repayment mortgage, but at the end of the term you’ll still owe the original amount you borrowed from the lender.
With a repayment mortgage, you pay back a small part of the loan and the interest each month. Assuming you make all your payments, you’re guaranteed to pay off the whole loan at the end of the BTL Mortgage term.
Let to Buy (LTB) is a mortgage solution giving homeowners the freedom to move from their existing house whilst removing any pressure to sell.