Unlock the door to your first home with our £2,000 Cashback Mortgage! The £2,000 can also be put towards your home deposit!

Unlock the door to your first home with our £2,000 Cashback Mortgage! The £2,000 can also be put towards your home deposit!

Unlock the door to your first home with our £2,000 Cashback Mortgage! The £2,000 can also be put towards your home deposit!

Retirement Interest Only Mortgage 2.73% Variable Discount Mortgage for 2 Years

Mortgage Calculator

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

Product Code

MDS280

Information

Early Repayment Charge: No

Incentives: Yes

Things you need to know

Repayment Basis

Interest Only.

Fees

No application fee or arrangement fees

Age/Term

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.

Minimum Interest Rate

The interest rate on this product will not drop below 2.00%. (following the fixed rate period)


Incentives

Free Valuation

£250 cashback will be paid to your solicitors on completion of the mortgage.

Loan Size

Minimum Loan: £30,000

Maximum Loan: £500,000

Maximum Loan to Value

Purchase 65%.
Remortgage 65%.

Property Location

Available for properties located in England, Wales and Scotland (Selected Scottish Islands accepted, please refer to criteria).

Availability

New Business - All of our savings and mortgage products are only available to UK residents

Early Repayment Charges

There are no early repayment charges.

Representative Example

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^

RIO Guide

To found out more about Retirement Interest Only Mortgages, read our helpful guide HERE

Find out More or Apply

Call us on 01782 255000.

Lines are Open 9.00am to 5.00pm Monday to Friday, Saturdays 9am to 12.00pm.

Mortgage Enquiry

Call us on 01782 255000 or complete the form below and a member of our team will be in touch

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