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Residential fixed rate - 2 years Capital and Interest - loans over £1m BO1381

For loans up to 80% of property value

Product nameResidential fixed rate - 2 years Capital and Interest - loans over £1m BO1381
Initial rate5.62%
Initial rate expires on
31st October 2026
Rate thereafterStandard Variable Rate, currently
9.24%
Overall cost for comparison8.80% APRC
Product fee£1,999
Legal and Valuation Fees

Purchases: None

Re-mortgages: Free valuation and free legal fees (if using bank's own solicitors)

Eligibility

Where any part of the mortgage is Interest Only this product is to be used for both the Interest Only and Capital & Interest elements.

Loan Amounts:

The minimum loan size is £1,000,001.

Maximum Loan Amounts are restricted by LTV criteria:

Loans up to £2,500,000 - maximum LTV 80% (no more than 75% LTV to be Interest Only)

Where any element of the loan is interest only, the following criteria applies:

Maximum Term Capital and Interest: 40 years

Maximum Term Interest Only or Part and Part: 35 years

Minimum Property Value £400,000

Minimum Income: £75k sole or £100k joint

Maximum age & retirement: If downsizing is used as a repayment strategy, the maximum age is 70 and lending in/into retirement is not allowed.

Other Information

Please note that income multiples are maximums and are given as a guide only - we will use our own affordability calculations, taking into account the applicants individual circumstances to arrive at the final lending decision.

Remortgages Switching Package:

Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) and one free valuation.

Properties up to £3m – One free valuation. If the property to be mortgaged is currently unencumbered then a free valuation is available.

Two months personal bank statements required where the mortgage is £1,000,000 or above.

Maximum loan amount£2,500,000
If any part of the mortgage is Interest Only the maximum loan on this product is £750,000 (£1,000,000 in London & South East).
Maximum loan to value80%
Minimum loan amount£1,000,001
Early repayment charge3% in year one
2% in year two
Special offers

Purchase or Unencumbered: None

Remortgage: One free valuation for properties up to £3m.

Overpayment permittedYes, up to 10% of outstanding loan each year without penalty. After the fixed period you can make over payments without any restrictions.
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