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Residential fixed rate - 2 years Interest Only - Loans over £1m

For loans up to 75% of property value

Product nameResidential fixed rate - 2 years Interest Only - Loans over £1m
Initial rate1.99%
Initial rate expires on
31st October 2021
Rate thereafterStandard Variable Rate, currently
5.20%
Overall cost for comparison4.9% APRC
Product fee
£1,999
Option to add product fees to mortgageYes the product fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type
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

 

Maximum loan amount£2,000,000 - maximum LTV 75%
£3,000,000 - maximum LTV 70% (no more than 65% LTV to be Interest Only)
Loans Over £3,000,000- maximum LTV 60% (no more than 55% LTV to be Interest Only)
Maximum loan to value75%
Minimum loan amount£1,000,001
Early repayment charge3% in year one
2% in year two
Special offersRemortgage: Legal fees and valuation paid for remortgages only #
Special features

At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty.

 

# Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) and one free valuation on properties worth £2m, or less. If the property to be mortgaged is currently unencumbered then a free valuation is available.

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