Our 2 Year Fixed Rate Retirement Interest Only (RIO) Mortgage is available up to 55% LTV so will require a deposit of at least 45% from you.
The minimum loan size permitted on this mortgage is £30,000 and the maximum loan size permitted is £750,000.
This mortgage is only available on Interest Only.
Mortgage rates correct as of 1 September 2020
Fixed until May 2023 2.49 %
Followed by our SVR (currently) 5.70 %
Overall cost for comparison 5.10 % APRC
2.49% fixed to 31.05.2023
You can take your fixed rate with you if you move house
|Early repayment charge:||
3% to 31.05.21
Yes, up to 5% of the original loan per 12 month period
|Basic valuation fee:||
Free up to property value £500,000 thereafter charges apply
Fee assisted remortgage legals
House purchase and remortgage in England & Wales up to a loan to value of 55% and a minimum initial advance of £30,000
|Higher Lending Charge:||
We can arrange buildings insurance to protect your home and its contents
This product may be withdrawn at any time without prior notice
|What happens on maturity:||
Our team will write to you 12 weeks prior to your mortgage maturity to explain the options open to you
Our mortgage team is on hand to give you more details about our products, walk you through the application and carry out an Agreement in Principle (AIP) over the phone.
Call Member Services:
Your home may be repossessed if you do not keep up repayments on your mortgage