Porting an Interest Only mortgage
Existing customers with an Interest Only or Part & Part mortgage can continue to keep the Interest Only balance they already owe when porting their mortgage to a new property, provided they have an acceptable Mortgage Repayment Plan in place.
Where additional borrowing is required as part of the move, they'll need to choose a product from our current Home Mover existing range. This may have a different rate.
Additional borrowing now available on Interest Only
We're also expanding our additional borrowing options.
Additional borrowing is now available on Interest Only, Part & Part and repayment mortgages, giving existing borrowers more choice.
For additional borrowing applications, the Mortgage Repayment Plan must be sufficient to cover both any existing Interest Only balance and any new Interest Only borrowing.