For the use of mortgage intermediaries & other professionals only

Interest only changes

From Tuesday 30 April, we've increased the maximum loan to value (LTV) on our part interest-only / part capital repayment mortgages from 75% to 85%.

This change will enable customers who are taking some of their borrowing on an interest-only basis to borrow at an overall higher LTV.

The maximum loan amount available on pure interest-only remains as 75%, subject to full criteria. The maximum amounts allowed on interest-only for sale of mortgaged property (SOMP) remain unchanged.

The change only applies for applications started from Tuesday 30 April. If an application was started before this date, even if just a Decision in Principle or Illustration was keyed, the change will not apply.

There are no other changes to our interest-only criteria. Our website criteria will be updated shortly.