An interest-only mortgage lets you decide how you want to spend your money.

Do you anticipate steady income growth in the future and feel it would make more sense to have a lower payment now?

Or maybe you would prefer to put funds into remodeling your new home and increasing its long term value. myGreatLoan and Bank of England offer a SecureCombo home mortgage which frees up your cash, letting you decide how to spend your money.

Benefits:

  • Flexible payments.
  • Pay only the interest each month (without any penalties), or pay interest plus principal; as much or as little as you like.
  • Deferred repayment. You have a fixed amount of time (3, 5, 7 or 10 years) before you are required to begin paying back the principal. Then, payments include interest plus a portion of the principal loan amount.

Also, you are not locked into anything!

One of the many benefits that the Bank of England offers is that you can refinance your Interest-Only to a Fixed Rate Mortgage at any time without any pre-payment penalties.

Let’s get started today!

              Contact us at 1-800-249-0080
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DISCLAIMER

Bank of England Mortgage Division has tried to provide accurate and timely information; however, the content of this site may not be accurate, complete or current and may include technical inaccuracies or typographical errors. From time to time changes may be made to the content of this site without notice. Bank of England Mortgage Division may change the products, services, and any other information described on this site at any time.

The information published on this site is provided as a convenience to visitors and is for informational purposes only. You should verify all information before relying on it and decisions based on information contained in our site are your sole responsibility. If you need specific details about any information contained in our site, you should contact Bank of England Mortgage Division at (248) 504-5114.

This is not a commitment to lend or extend credit. All loans are subject to credit approval including credit worthiness, insurability, and ability to provide acceptable collateral. Not all loans or products are available in all states.  ENG Lending and Bank of England are not affiliated with any government agency.

Bank of England Mortgage Division is a division of Bank of England. NMLS 418481. Member FDIC.