Interest only: Existing endowment or ISA
Our standard acceptability
Yes
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 from the proceeds of an existing endowment or ISA.
Policy Notes:
For an existing endowment policy a copy of latest statement dated within the last 12 months giving the current projected maturity value. Mortgage must not exceed the value using the middle figure of the three growth rates provided. For an existing ISA a copy of the latest statement, dated within the last 12 months. Value to be assessed at 80% of the figure stated.
- interest only
- Product
Last updated:
29 August 2018