We are delighted to announce simplifications to our part interest only & part repayment products.

From Monday 15th August our residential interest only mortgages can be selected for both the capital & interest and interest only elements of a split mortgage.

For part interest only & part repayment loans we now allow a total LTV of 80% with a split of up to 75% LTV available on interest only and the remainder taken on a capital & interest basis, also up to a maximum of 80%*.

These products will be available from 15 August on our Mortgage Illustrator Tool and will be identifiable as Interest Only Part & Part mortgages (I/O P&P). They will also be available on sourcing systems shortly.

From the same date our core capital & interest range will not be available where any part of the mortgage is on an interest only basis. Pipeline applications must be received by 5pm on Friday 19th August.

* Geographical restrictions apply to some products. Please see our product pages for further details.

You may use the bank’s online application facility to submit cases.

For more information on our products or how we may be able to assist your clients, please contact your Relationship Manager.