Residential fixed rate - 5 years Interest Only IO1042
For loans up to 80%† of property value
| Product name | Residential fixed rate - 5 years Interest Only IO1042 |
| Initial rate | 6.10% |
| Initial rate expires on | 30th November 2028
|
| Rate thereafter | Standard Variable Rate, currently 9.24% |
| Overall cost for comparison | 8.40% 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. This product is only available for remortgages |
| Maximum loan amount | £1,000,000 |
| Maximum loan to value | 80%† |
| Minimum loan amount | £0 |
| Early repayment charge | 5% in years one and two 4% in year three 3% in year four 2% in year five |
| Special features | 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) |
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