Retirement Interest Only Mortgage 2.73% Variable Discount Mortgage for 2 Years
This shows what you'll pay each month during your initial deal period. It doesn't consider any charges or fees if you decide to make any changes to your mortgage. Please note this is only an estimate.
Retirement Interest Only Mortgage 2.73% Variable Discount Mortgage for 2 Years
Initial Pay Rate
5.76%
Loan to Value
65%
APRC
8.4%
Fees
None
Information
Early Repayment Charge: No
Incentives: Yes
Things you need to know
Interest Only.
No application fee or arrangement fees
Minimum age 55 years and the borrower(s) must be retired. There is no maximum age.
The maximum term is 55 years For joint mortgages each borrower will need to afford the mortgage in their own right. Borrower(s) must be retired prior to application.
The interest rate on this product will not drop below 2.00%. (following the fixed rate period)
Free Valuation
£250 cashback will be paid to your solicitors on completion of the mortgage.
Minimum Loan: £30,000
Maximum Loan: £2,000,000 at 50% LTV, £1,500,000 at 65% LTV
Purchase 65%.
Remortgage 65%.
Available for properties located in England, Wales and Scotland (Selected Scottish Islands accepted, please refer to criteria).
New Business - All of our savings and mortgage products are only available to UK residents
There are no early repayment charges.
A mortgage of £117,869.00 payable over 25 years initially on a discounted variable rate of 5.76% for 2 years and then on our Standard Variable Rate (SVR) of 8.49% (variable) for the remaining 276 months would require 24 monthly payments of £565.77 and 276 monthly payments of £833.92. The total amount payable would be £361,645.31 made up of the loan amount plus interest (£243,741.31) and a funds transfer fee of £35.00.
The overall cost for comparison is 8.4% APRC representative^
To found out more about Retirement Interest Only Mortgages, read our helpful guide HERE
Call us on 01782 255000.
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Mortgage Enquiry
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