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Residential fixed rate - 2 years Interest Only

For loans up to 80% of property value

Product nameResidential fixed rate - 2 years Interest Only
Initial rate1.59%
Initial rate expires on
31st March 2020
Rate thereafterStandard Variable Rate, currently
4.95%
Overall cost for comparison4.6% APRC
Arrangement fee£1499
Option to add arrangement fees to mortgageYes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type
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

Maximum loan amountLoans up to £1,000,000 maximum overall LTV 75% (available to maximum overall LTV of 80% on properties in London & South East^). Loans up to £750,000 maximum overall LTV 80%.

^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 to value80%
Minimum loan amount£500,000
Early repayment charge3% in year one
2% in year two
Special offersRemortgage: Legal fees and valuation paid for remortgages only #
Special features

At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty.

 

# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package.