Working with you…Interest only
No minimum income.
Mortgage term can go up to the oldest applicant’s 70th birthday.
Maximum loan to value (LTV)
- 85% LTV for the overall lending on a part interest only basis.
- 75% LTV on an interest only basis where at least one applicant has a gross income of more than £250,000.
- 50% LTV on an interest only basis for an applicant with a gross income of £250,000 or less.
Where the applicant’s repayment vehicle is sale of the mortgaged property:
- For pure interest only minimum of £250,000 equity in the property at application.
- For part interest only minimum of £250,000 equity in the property at end of the mortgage term.