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.
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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%† 1.95% 31st March 20244.49%4.3% APRC £999 
2 year fixed rate - loans over £1m BO1181 80%† 2.09% 31st March 20244.49%4.3% APRC £1,999 5 year fixed rate IO1042 80%† 2.21% 31st March 20274.49%3.9% APRC £999 5 year fixed rate - loans over £1m BO1184 80%† 2.35% 31st March 20274.49%4.0% APRC £1,999 2 year fixed rate BTL - fee offer BO1175 75% 2.68% 31st March 20245.1%4.9% APRC £02 year fixed rate BTL BO1173 75% 2.50% 31st March 20245.1%4.9% APRC £1999 2 year fixed rate BTL - Over £1m - London and South East only BO1172 75% 2.69% 31st March 20245.1%4.9% APRC £2,999 5 year fixed rate BTL - fee offer BO1176 75% 2.73% 31st March 20275.1%4.5% APRC £05 year fixed rate BTL BO1174 75% 2.53% 31st March 20275.1%4.5% APRC £1999 Offset Variable Investment Housing Loan BO1004 75% 5.1% (variable) No end date Variable for term 5.2% APRC £1,999Offset Discounted OVR- 2 years Interest Only BO1171 80% 2.19% (variable) 31st March 20244.55%4.5% APRC £999 2 year offset discounted OVR - loans over 1m BO1170 80% 2.49% (variable) 31st March 20244.7%4.5% APRC £1,999 -
Deal Max LTV Initial rate Until Follow-on rate (variable) Overall cost for comparison Product fee 2 year fixed rate IO1033 80%† 1.95% 31st March 20244.49%4.3% APRC £999 2 year fixed rate - loans over £1m BO1181 80%† 2.09% 31st March 20244.49%4.3% APRC £1,999 5 year fixed rate IO1042 80%† 2.21% 31st March 20274.49%3.9% APRC £999 5 year fixed rate - loans over £1m BO1184 80%† 2.35% 31st March 20274.49%4.0% APRC £1,999 -
Deal Max LTV Initial rate Until Follow-on rate (variable) Overall cost for comparison Product fee 2 year fixed rate BTL - fee offer BO1175 75% 2.68% 31st March 20245.1%4.9% APRC £02 year fixed rate BTL BO1173 75% 2.50% 31st March 20245.1%4.9% APRC £1999 2 year fixed rate BTL - Over £1m - London and South East only BO1172 75% 2.69% 31st March 20245.1%4.9% APRC £2,999 5 year fixed rate BTL - fee offer BO1176 75% 2.73% 31st March 20275.1%4.5% APRC £05 year fixed rate BTL BO1174 75% 2.53% 31st March 20275.1%4.5% APRC £1999 Offset Variable Investment Housing Loan BO1004 75% 5.1% (variable) No end date Variable for term 5.2% APRC £1,999 -
Deal Max LTV Initial rate Discounted rate expires Follow-on rate (variable) Overall cost for comparison Product fee Offset Discounted OVR- 2 years Interest Only BO1171 80% 2.19% (variable) 31st March 20244.55%4.5% APRC £999 2 year offset discounted OVR - loans over 1m BO1170 80% 2.49% (variable) 31st March 20244.7%4.5% APRC £1,999 -
Deal Max LTV Initial rate Discounted rate expires Follow-on rate (variable) Overall cost for comparison Product fee
(Rates correct as at 13th January 2022)
* Standard Variable Rate
** Offset Variable Rate
*** Offset Variable Investment Housing Loan Rate
Representative Example
A mortgage of £383,121 payable over 25 years, initially on a fixed rate of 2.14% for 2 years and then our Standard Variable Rate, currently 4.55%, for the remaining 23 years. This would require 26 monthly payments of £683.72 and then 273 monthly payments of £1,452.92 plus one final payment of £1,456.34.
The total amount payable would be £416,467.22 made up of the loan amount plus interest (£32,759.22), product fee (£999), valuation fee (£352), funds transfer fee (£40) and mortgage exit fee (£195).
The overall cost for comparison is 4.3% 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.
