We can help you find the right product from our range
As a private banking customer we offer you exclusive access to the following interest only mortgage range, for mortgages against properties worth £400,000 or more. Your Private Manager will discuss your options and put you in touch with an expert adviser. These professionals will work with you to help you find the product most suited to your needs from our range. For exclusive private residential repayment mortgages, see our repayment mortgage page. The maximum Loan to Value (LTV) for interest only where the repayment strategies meet the Bank's criteria and can be evidenced is 75%.
For alternative products please see our personal banking mortgage range.
Applicants must be aged 18 or over. All loans are subject to status. Security will be required.
Your home may be repossessed if you do not keep up repayments on your mortgage
†The maximum Loan to Value for any Interest Only element of a mortgage is 75%. Any additional borrowing up to a maximum of 80% loan to value must be on a suitable Capital & Interest product.
- All private interest only mortgages
- Private fixed rate
- Private buy to let
- Private offset
- Private discounted SVR
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Deal Max LTV Initial rate Until Follow-on rate (variable) Overall cost for comparison Product fee 2 year fixed rate IO1033 80%† 2.14% 31st May 20234.55%4.3% APRC £999 
2 year fixed rate - loans over £1m BO1181 80%† 2.14% 31st May 20234.55%4.3% APRC £1,999 5 year fixed rate IO1042 80%† 2.54% 31st May 20264.55%4.0% APRC £999 5 year fixed rate - loans over £1m BO1184 80%† 2.59% 31st May 20264.55%4.1% APRC £1,999 2 year fixed rate BTL - Over £1m - London and South East only BO1172 60% 2.79% 31st May 20234.95%4.8% APRC £2,999 2 year fixed rate BTL - fee offer BO1175 75% 2.79% 31st May 20234.95%4.7% APRC £02 year fixed rate BTL BO1173 75% 2.59% 31st May 20234.95%4.8% APRC £1999 5 year fixed rate BTL - fee offer BO1176 75% 2.84% 31st May 20264.95%4.4% APRC £05 year fixed rate BTL BO1174 75% 2.69% 31st May 20264.95%4.4% APRC £1999 Offset Variable Investment Housing Loan BO1004 75% 4.95% (variable) No end date Variable for term 4.95% APRC £1,9992 year offset discounted OVR - loans over 1m BO1170 80%† 2.34% (variable) 31st May 20234.55%4.3% APRC £1,999 Offset Discounted SVR- 2 years Interest Only BO1171 80%† 2.04% (variable) 31st May 20234.55%4.3% APRC £999 Offset Discounted SVR- 2 years Interest Only IO1012 75%† 2.04% (variable) 31st May 20234.55%4.3% APRC £999 2 year discounted SVR IO1010 80%† 1.74% (variable) 31st May 20234.55%4.3% APRC £999 -
Deal Max LTV Initial rate Until Follow-on rate (variable) Overall cost for comparison Product fee 2 year fixed rate IO1033 80%† 2.14% 31st May 20234.55%4.3% APRC £999 2 year fixed rate - loans over £1m BO1181 80%† 2.14% 31st May 20234.55%4.3% APRC £1,999 5 year fixed rate IO1042 80%† 2.54% 31st May 20264.55%4.0% APRC £999 5 year fixed rate - loans over £1m BO1184 80%† 2.59% 31st May 20264.55%4.1% APRC £1,999 -
Deal Max LTV Initial rate Until Follow-on rate (variable) Overall cost for comparison Product fee 2 year fixed rate BTL - Over £1m - London and South East only BO1172 60% 2.79% 31st May 20234.95%4.8% APRC £2,999 2 year fixed rate BTL - fee offer BO1175 75% 2.79% 31st May 20234.95%4.7% APRC £02 year fixed rate BTL BO1173 75% 2.59% 31st May 20234.95%4.8% APRC £1999 5 year fixed rate BTL - fee offer BO1176 75% 2.84% 31st May 20264.95%4.4% APRC £05 year fixed rate BTL BO1174 75% 2.69% 31st May 20264.95%4.4% APRC £1999 Offset Variable Investment Housing Loan BO1004 75% 4.95% (variable) No end date Variable for term 4.95% APRC £1,999 -
Deal Max LTV Initial rate Discounted rate expires Follow-on rate (variable) Overall cost for comparison Product fee 2 year offset discounted OVR - loans over 1m BO1170 80%† 2.34% (variable) 31st May 20234.55%4.3% APRC £1,999 Offset Discounted SVR- 2 years Interest Only BO1171 80%† 2.04% (variable) 31st May 20234.55%4.3% APRC £999 Offset Discounted SVR- 2 years Interest Only IO1012 75%† 2.04% (variable) 31st May 20234.55%4.3% APRC £999 -
Deal Max LTV Initial rate Discounted rate expires Follow-on rate (variable) Overall cost for comparison Product fee 2 year discounted SVR IO1010 80%† 1.74% (variable) 31st May 20234.55%4.3% APRC £999
(Rates correct as at 24th February 2021)
* Standard Variable Rate
** Offset Variable Rate
*** Offset Variable Investment Housing Loan Rate
Representative Example
A mortgage of £210,640 payable over 15 years, initially on a fixed rate of 1.69% for 2 years and then our Standard Variable Rate, currently 5.2%, for the remaining 13 years. This would require 26 monthly payments of £296.89 and then 153 monthly payments of £909.16 plus one final payment of £911.05.
The total amount payable would be £360,255.67 made up of the loan amount plus interest (£147,731.67), Product fee (£999), valuation fee (£650), Funds Transfer fee/telegraphic transfer fee (£40) and Mortgage exit fee (£195).
The overall cost for comparison is 4.7% APRC representative.
The Representative Example is for illustrative purposes only. It is representative of our full range of private interest only mortgages. Your actual costs and monthly repayments will vary depending on your mortgage. If you have refined your results using the tabs above, this example will no longer be representative.
