We've broadened interest-only mortgage range
09 January 2023 • Products & Services
We've introduced a 2-year interest only discounted mortgage, a 5-year fixed rate and we already offer a 2-year fixed rate.
There is no early repayment charge on the 2-year interest only discounted mortgage.
Other advantages include no minimum income requirement and loans can be for up to 40 years, which could take the eldest applicant to 80 years of age.
Intermediary Manager, Kathy Bowes, said: “We have launched these additional products to broaden the range and provide greater flexibility to a wider range of applicants, in line with our strategy to provide appropriate access to homes and housing.
“Mortgage affordability is assessed on an interest-only basis and our team of expert underwriters look at each application individually, which enables us to make sound lending decisions.”
All products have a minimum loan size of £75,000 with a maximum of £750,000. Application and completion fees will be applied to all interest only products.
We will accept repayment methods including pension and investment portfolios for maximum loan to value borrowing up to 70% and up to 66% LTV of the secured property provided it amounts to £225,000 worth of equity.
Our mortgage products can be found by clicking here. All our mortgages are available on properties across England and Wales.
For more information contact the team today.