For loans up to 80%† of property value
|Product name||Residential fixed rate - 2 years Interest Only - loans over £1m|
|Initial rate expires on|
31st March 2023
|Rate thereafter||Standard Variable Rate, currently |
|Overall cost for comparison||4.3% APRC|
|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|
Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required
Where any part of the mortgage is Interest Only this product is only available for properties in London & South East^. Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required.
^London & South East defined as: Greater London (post codes starting E, EC, N, NW, SE, SW, W, WC, BR, CR, DA, EN, HA, IG, KT, RM, SM, TW, or UB), Berkshire, Buckinghamshire, East Sussex, Hampshire, Isle of Wight, Kent, Oxfordshire, Surrey, West Sussex.
|Maximum loan amount||£2,000,000 - maximum LTV 80% (no more than 75% LTV to be Interest Only) £3,000,000 - maximum LTV 70% Loans Over £3,000,000- maximum LTV 60%|
|Maximum loan to value||80%†|
|Minimum loan amount||£1,000,001|
|Early repayment charge||3% in year one|
2% in year two
Location: These loans are only available to properties within London and South East.
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
The minimum loan size is £1,000,001.
Maximum Loan Amounts are restricted by LTV criteria:
Loans up to £2,000,000 - maximum LTV 75% LTV to be Interest Only (up to 80% LTV C&I)