Interest only: Annual lump sum repayment

Our standard acceptability

No

Criteria definition:

Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is the borrowers intention to make periodic lump sum reductions from savings, bonus payments, sale of assets and the like.

Policy Notes:

We are unable to accept annual lump sum repayments as an acceptable repayment strategy for an interest only mortgage.

Criteria categories:
  • interest only
  • Product

Last updated:

29 August 2018