Offset discounted OVR- 2 years - Interest Only - IO1622
For loans up to 80%† of property value
| Product name | Offset discounted OVR- 2 years - Interest Only - IO1622 |
| Initial rate | 4.54% (variable) |
| Initial rate expires on | 30th April 2025 |
| Rate thereafter | Standard Variable Rate, currently 7.45% |
| Overall cost for comparison | 7.50% APRC |
| Product fee | £999 |
| Option to add product fees to mortgage | The product fee can be added to the loan, unless it takes a residential loan over 95% LTV or a BTL loan over 80% LTV. |
| 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 | 3% in year one 2% in year two |
| Special offers | New lending only available to Private customers. 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 | Offset mortgage product. 6 Separate Accounts-Current and Savings Account, credit balances offset against mortgage debit balances for purpose of daily interest calculation. |
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