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.
- interest only
- Product
Last updated:
29 August 2018