With this type of mortgage you are only paying interest each month. This means that although your payments will be lower, the amount you borrow will still be outstanding at the end of the mortgage term. You'll need to make alternative arrangements to pay off the mortgage to avoid the property having to be sold, such as taking out an ISA.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There will be a fee for mortgage advice. The precise amount will depend on your circumstances, but we estimate that it will be £295 for a residential mortgage & £500 for a Buy-to-Let mortgage but this may range from £250 - £1000.
The Financial Conduct Authority does not regulate some forms of Mortgage including Buy to Let.