Discounted SVR - 2 years Interest Only
For loans up to 80%† of property value
| Product name | Discounted SVR - 2 years Interest Only |
| Initial rate | 1.74% (variable) |
| Initial rate expires on | 31st March 2023 |
| Rate thereafter | Standard Variable Rate, currently 4.55% |
| Overall cost for comparison | 4.3% APRC |
| Product fee | £999 |
| Option to add product fees to mortgage | Yes the product fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type |
| Eligibility | Applicants must be aged 18 or over. All loans are subject to status. Security will be required |
| Maximum loan amount | £1,000,000 |
| Maximum loan to value | 80%† |
| Minimum loan amount | £0 |
| Early repayment charge | Applies for the first two years
3% in year 1 2% in year 2 |
| Special offers | New lending only available to Private customers. Purchase: None Remortgage: One free valuation for properties up to £3m Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) for properties up to £2m Properties over £3m – No incentives All incentives are subject to qualifying criteria being met. Available to existing Retail Interest Only customers for product switches only (subject to criteria) |
| Special features | Flexible option. Interest calculated daily. Overpayments allowed (although maybe subject to early repayment charge if made within discounted rate period). Redraws and payment holidays available at end of discounted rate period. No extended lock-in |
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