2 Year Discounted Offset under 80 percent LTV (OVR minus 2.61 percent) - Loan 1m - IO - IO1623
For loans up to 75% of property value
| Product name | 2 Year Discounted Offset under 80 percent LTV (OVR minus 2.61 percent) - Loan 1m - IO - IO1623 |
| Initial rate | 6.59% (variable) |
| Initial rate expires on | 31st January 2027 |
| Rate thereafter | Offset Variable Rate, currently 9.20% |
| Overall cost for comparison | 9.40% APRC |
| Product fee | £1,999 |
| 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 | 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) |
| Maximum loan to value | 75% |
| Minimum loan amount | £1,000,001 |
| Special offers | Purchase: None 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. |
| 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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