Interest Only options for existing customers

You may be eligible if:

• You meet the minimum income criteria of £75,000 for sole applicants, or £100,000 for joint applicants (unless one applicant earns £75,000). We base minimum income on your basic salary only.
• If you have a leasehold property you must have a minimum lease term of 70 years remaining at application.
• You have a eligible mortgage repayment plan in place, such as selling the property or using UK savings.

You won't be eligible if:

• You are raising funds to repay unsecured debt.
• You have a secured loan, but it’s not being paid off.
• You’ve retired, or the term would go into your retirement.
• You want to use Interest Only in conjunction with any other scheme. For example, Shared Ownership, Right to Buy, Helping Hand.
• You’re applying for Green Additional Borrowing.

You may be eligible if:

• If you have a leasehold property you must have a minimum lease term of 70 years remaining at application.

• You can provide evidence of a mortgage repayment plan for your existing Interest Only borrowing.

  You don’t need a repayment plan for the additional Repayment borrowing.

You may be eligible if:

• You meet the minimum income criteria of £75,000 for sole applicants, or £100,000 for joint applicants (unless one applicant earns £75,000). We base minimum income on your basic salary only.
• If you have a leasehold property you must have a minimum lease term of 70 years remaining at application.
• You can provide evidence of a mortgage repayment plan for existing and additional Interest Only borrowing.

You won't be eligible if:

• You are raising funds to repay unsecured debt.
• You have a secured loan, but it’s not being paid off.
• You want to use Interest Only in conjunction with any other scheme. For example, Shared Ownership, Right to Buy, Helping Hand.
• You’ve retired, or the term would go into your retirement.
• You’re applying for Green Additional Borrowing.

You may be eligible if:

• You meet the minimum income criteria of £75,000 for sole applicants, or £100,000 for joint applicants (unless one applicant earns £75,000). We base minimum income on your basic salary only.
• If you have a leasehold property you must have a minimum lease term of 70 years remaining at application.
• You can provide evidence of a repayment plan for your existing and any additional Interest Only borrowing.

You won't be eligible if:

• You’ve retired, or the term would go into your retirement.
• You want to use Interest Only in conjunction with any other scheme. For example, Shared Ownership, Right to Buy, Helping Hand.

You may be eligible if:

• If you have a leasehold property you must have a minimum lease term of 70 years remaining at application.
• You can provide evidence of a repayment plan for your existing Interest Only borrowing. You don’t need a repayment plan for the additional Repayment borrowing.

You may be eligible if:

• You meet the minimum income criteria of £75,000 for sole applicants, or £100,000 for joint applicants (unless one applicant earns £75,000). We base minimum income on your basic salary only.
• If you have a leasehold property you must have a minimum lease term of 70 years remaining at application.
• For all Interest Only borrowing you must have a repayment plan in place.

You won't be eligible if:

• You’ve retired, or the term would go into your retirement.
• You want to use Interest Only in conjunction with any other scheme. For example, Shared Ownership, Right to Buy, Helping Hand.
• You are letting your property.

• UK address history for the last 3 years.
• Income – salary, bonuses and investments.
• Outgoings such as travel costs, childcare and school fees.
• Credit cards, finance and loans.
• National Insurance number.
• How much you want to borrow.
• Property price.
• Mortgage repayment plan details.