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Residential fixed rate - 2 years Interest Only BO1181

For loans up to 80% of property value

Product nameResidential fixed rate - 2 years Interest Only BO1181
Initial rate2.91%
Initial rate expires on
31st July 2024
Rate thereafterStandard Variable Rate, currently
4.99%
Overall cost for comparison4.8% APRC
Product fee£1,999
Option to add product fees to mortgageThe 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 amountMaximum Loan Amounts are restricted by LTV criteria: Loans up to</br> £2,500,000 - maximum LTV 80% LTV (75% LTV Interest Only) If the LTV is over 75% and any part of the mortgage is Interest Only the maximum loan on this product is £750,000 (£1,000,000 in London & South East^)
Maximum loan to value80%
Minimum loan amount£1,000,001
Early repayment charge3% in year one
2% in year two
Special features

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

The minimum loan size is £1,000,001.

Maximum Loan Amounts are restricted by LTV criteria:

Loans up to £2,500,000 - maximum LTV 75% LTV to be Interest Only (up to 80% LTV C&I)

 

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