Standard Part & Part
Who is it for?
Our Standard Part & Part mortgage is available to those aged 50 and over, whether your client is working or retired. It’s a mortgage that is part interest-only and part Capital & Interest.
Standard Part & Part can help clients in a range of circumstances:
Affordability: Assisting our Capital & Interest focused clients, to help them get the borrowing that they need. This is done by taking some of the loan on an Interest-Only basis (subject to the client having a suitable repayment strategy).
Minimum equity: Assisting our Interest Only focused clients by taking some of their mortgage loan on a Capital & Interest basis, so that they meet our minimum equity requirements (for downsizing) by the end of the mortgage term.
Clients with investments: Some clients will have a clear idea of how much they may have in investments, and therefore how much they want to put on Interest-Only up front.
Key Points:
40 years:Up to 40 years maximum loan term.
From 50 years old:Our Part & Part mortgage is open to borrowers aged 50.
For joint applications, the youngest borrower can be at least 40 years of age when applying.
Up to 80% LTV:Borrow up to 75% on interest only with the remaining 5% available on Capital & Interest repayment.
0.55% gross proc fee:We have 2 proc fee options. Choose from:
- Our Standard Proc Fee of 0.55% gross upfront
- Our Ongoing Proc Fee of 0.55% gross upfront plus an additional 0.13% gross every year thereafter, for up to 15 years
Our Ongoing Proc Fee requires an annual customer care call.
10% Overpayments:Up to 10% overpayments can be made per annum.
- £20,000 Minimum Loan:
Borrow as little as £20,000, with the smallest split being £5,000.
Documents
Download these guides to explore our products and criteria.
Useful Links
Browse our Standard Part & Part products
Product | Fixed Rate Term | Interest Rate | Max LTV | Reversion Rate | Product Fee | APRC | |
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