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

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.

Purchase or Unencumbered: None

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