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Improvements to our Residential Interest Only policy

21st October 2014

We are pleased to announce with immediate effect our Residential Interest Only policy has changed to the following:

  • minimum loan amount has been reduced to £100,000
  • minimum property value £400,000
  • maximum age – the earlier of: customer stated retirement age or 70 years
  • individuals must have annual earnings of at least £75,000 or joint incomes of £100,000
  • maximum LTV - 75% to £1m / 60% to £1.5m

When downsizing is the repayment vehicle the minimum amount of equity required is £300,000.

For more information please visit our criteria section of our website or your relationship partner.

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