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Last year lenders started to tighten the criteria for interest only mortgages which has now led to the point where most people will not be able to obtain an interest only residential mortgage. If anyone is on interest only for a residential mortgage, even if this is covered by an endowment policy or ISA, then they will now find it very difficult if not near impossible to purchase or remortgage a property without transferring to a repayment basis.
If you are in this position then it would be prudent to take advice early and adjust your finances to take account of this new situation before you want to remortgage or purchase. A lack of preparation before the transfer could put an immense strain on the family budget so I cannot emphasise too strongly the need to prepare well in advance.