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.
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.
- Tick icon Available for first time buyers, as well as new purchase and remortgage.
- 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.
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.
Check affordability
Use our affordability calculator to see how much they could borrow for Interest Only and Part and Part.
