The one and Interest Only

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

Existing Nationwide borrowers can now borrow more on an Interest Only mortgage or port their current mortgage to Interest Only.

Information:

Existing Nationwide borrowers can now take additional borrowing on Interest Only, including when they port their current mortgage.

Max Loan to value (LTV)

75% LTV for Interest Only

85% for Part and Part.

Max loan amount

Your client could borrow up to £5 million.

Max loan term

Maximum term of 40 years, or retirement if sooner.

Key eligibility

  • Tick icon Available across our new purchase, remortgage, additional borrowing product range, including first time buyers and porting.
  • Tick icon Minimum income of £75,000 for sole applicants and now £100,000 for joint applicants (unless one applicant earns £75,000).
  • Tick icon Your client can repay using a number of options: UK savings, UK investments, UK pension scheme, sale of other UK property or sale of main residence.
  • Tick icon For cases involving the sale of a main residence, the minimum equity calculation will count repayment borrowing as equity.
Check our full Interest Only criteria

Check affordability

Use our affordability calculator to see how much they could borrow for Interest Only and Part and Part.

Calculate affordability

How Interest Only could work for your clients

Lifestyle choices

Is your client living and working in a city with a high cost of living?

Monthly mortgage payment savings could help to manage their finances without compromising on the property they want. When they retire they will sell and downsize, or move to a cheaper area.

Investments

Is your client a keen investor?

They could redirect the savings from a lower monthly mortgage payment into their investment portfolio, rather than spend on capital repayment.

Family & education

Is your client paying school or university fees for their children?

Smaller monthly mortgage payments could help them focus on their family priorities without compromising on the their home.