Discounted SVR - 2 years Interest Only IO1010
For loans up to 80%† of property value
| Product name | Discounted SVR - 2 years Interest Only IO1010 |
| Initial rate | 1.74% |
| Initial rate expires on | 31st July 2023 |
| Rate thereafter | Standard Variable Rate, currently 4.55% |
| Overall cost for comparison | 4.3% APRC |
| Product fee | £999 |
| 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 |
| Eligibility | Applicants must be aged 18 or over. All loans are subject to status. Security will be required |
| Maximum loan amount | £1,000,000 |
| Maximum loan to value | 80%† |
| Minimum loan amount | £0 |
| Early repayment charge | Applies for the first two years
3% in year 1 2% in year 2 |
| Special offers | 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) |
| Special features | At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty. Purchase or Unencumbered: One free valuation for properties up to £3m 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 |
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