Standard Interest Only

Who is it for?

Our Standard Interest Only Mortgage is available aged 50-80 whether you're working or retired.

You only need to pay the interest each month and you choose the term, unlike with a Retirement Interest Only (RIO) mortgage, which has no specified end date.

Standard Interest Only could be suitable for a wide range of circumstances, including:

  • Purchasing a new property
  • Remortgaging an existing loan
  • Generating funds for home improvements
  • To start a bank of mum and dad
  • Staying in the property in the short term before downsizing or awaiting an inheritance payout.
  • Inheritance tax planning (IHT) planning and wealth management
  • If you're not ready or you don’t currently qualify for a RIO mortgage or Lifetime Mortgage (equity release) product. A Standard Interest Only mortgage can act as a bridge into these.

Minimum Equity Requirements

With Standard Interest Only, you're required to hold sufficient equity in the mortgaged property. This is dependent on which region of the UK you live. You can speak to your mortgage adviser for more information.

Key Points:

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    Up to 70% loan to value:

    Borrow up to 70% of the value of your home.

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    30 years:

    Up to 30 years maximum loan term

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    50 to 80 years old:

    You can apply for our Standard Interest Only mortgage if you're between 50 to 80 years old.