The one and Interest Only.

When it comes to Interest Only, look no further. We now accept repayment strategies like savings, investments, pension funds and sale of other UK property.

Available up to 75% LTV, and 85% with part and part.

 


Latest updates

  • We now accept additional mortgage repayment plans. Including UK savings, UK investments, UK pension scheme, sale of other UK property and main residence.
  • Now available for first time buyers, in addition to new purchase and remortgage products.
  • Maximum 75% loan to value (LTV), or 85% for part and part.
  • Minimum income of £75,000 for sole applicants and now £100,000 for joint applicants (unless one applicant earns £75,000).
  • Minimum equity calculation for sale of main residence cases will now count any repayment borrowing as equity.
  • Maximum term of 40 years, or retirement if sooner.
  • Maximum loan amount of £5 million.

More on Interest Only criteria


How Interest Only could work for your clients

Below are some examples of how an Interest Only mortgage could be of interest to your clients who are purchasing a new property, looking to remortgage or are first time buyers.

Lifestyle choices

Example: Customers living and working in a city with higher living costs. Monthly mortgage payment savings could help to manage their finances while their living costs are higher, without compromising on the property they want. When they retire they will sell and downsize, or move to a cheaper area.

Investments

Example: Customers with substantial investments who want to continue to invest. They could re-direct the saving from their monthly mortgage payment into their investment portfolio, rather than spend on capital repayment.

 

Family & education

Example: Customers putting their children through private school. Having smaller monthly mortgage payments could help them to do that by re-directing some of their funds to paying for their children's education, without compromising on the kind of property they want.

 

Our Interest Only lending criteria page has more information on eligibility, mortgage repayment plans and how to apply.

Visit Interest Only criteria