Interest Only

Interest Only 

We offer interest only mortgages tailored to fit your needs, as well as a choice from a range of fixed or variable products.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Interest Only 

With an interest only mortgage, the monthly payments cover only the interest charged on the amount borrowed. This means that the interest only part of your mortgage, together with any fees or charges debited to your account will be owed in full at the end of the term. If there is any element of interest only, you must select a suitable mortgage from the range below.

Initial rate payable 1.72% Fixed until 30/09/2020
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.4% APRC
Early Repayment Charges 2% until 30 September 2019,
then
1% until 30 September 2020
Max LTV 70%
Mortgage fees Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: An interest only mortgage of £265,000 payable over 16 years 6 months initially on a rate fixed until 30/09/2020 at 1.72% and then our RMVR variable rate currently 4.99% for the remaining term would require 24 monthly payments of £381.26 and 174 monthly payments of £1,050.70. The total amount payable would be £457,956.88 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.19% Variable (BoEBR + 1.44%). The pay rate will not go below a floor of 1.94%.
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.5% APRC
Early Repayment Charges 0.5% for 2 years from completion
Max LTV 80%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £340,000 payable over 19 years 6 months on our variable tracker rate for 2 years at 1.44% above BoEBR and then on our current RMVR variable rate of 4.99%(variable) would require 25 monthly payments of £620.51 and 209 monthly payments of £1,343.07. The total amount payable would be £636,301.29 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.99% Variable (BoEBR + 1.24%). The pay rate will not go below a floor of 1.74%.
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.3% APRC
Early Repayment Charges 0.5% for 2 years from completion
Max LTV 60%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years on our variable tracker rate for 2 years at 1.24% above BoEBR and then on our current RMVR variable rate of 4.99%(variable) would require 25 monthly payments of £364.84 and 131 monthly payments of £869.05. The total amount payable would be £342,973.23 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.09% Variable (BoEBR + 1.34%). The pay rate will not go below a floor of 1.84%.
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.4% APRC
Early Repayment Charges 0.5% for 2 years from completion
Max LTV 70%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £265,000 payable over 16 years 6 months on our variable tracker rate for 2 years at 1.34% above BoEBR and then on our current RMVR variable rate of 4.99%(variable) would require 25 monthly payments of £461.55 and 173 monthly payments of £1,046.81. The total amount payable would be £457,700.33 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.92% Fixed until 30/09/2020
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.3% APRC
Early Repayment Charges 2% until 30 September 2019,
then
1% until 30 September 2020
Max LTV 60%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2020 at 1.92% and then our RMVR variable rate currently 4.99% for the remaining term would require 24 monthly payments of £352.00 and 132 monthly payments of £869.02. The total amount payable would be £343,165.48 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.19% Fixed until 30/09/2020
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.5% APRC
Early Repayment Charges 2% until 30 September 2019,
then
1% until 30 September 2020
Max LTV 80%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £340,000 payable over 19 years 6 months initially on a rate fixed until 30/09/2020 at 2.19% and then our RMVR variable rate currently 4.99% for the remaining term would require 24 monthly payments of £620.51 and 210 monthly payments of £1,343.02. The total amount payable would be £636,910.38 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.74% Fixed until 30/09/2021
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.0% APRC
Early Repayment Charges 3% until 30 September 2019,
then
2% until 30 September 2020,
then
1% until 30 September 2021
Max LTV 60%
Mortgage fees Application:£0
Completion:£995
Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2021 at 1.74% and then our RMVR variable rate currently 4.99% for the remaining term would require 36 monthly payments of £320.45 and 120 monthly payments of £872.95. The total amount payable would be £337,291.50 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 1.99% Fixed until 30/09/2023
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 3.6% APRC
Early Repayment Charges 5% until 30 September 2019,
then
5% until 30 September 2020,
then
4% until 30 September 2021,
then
3% until 30 September 2022,
then
2% until 30 September 2023
Max LTV 60%
Mortgage fees Application:£0
Completion:£1,495
Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2023 at 1.99% and then our RMVR variable rate currently 4.99% for the remaining term would require 60 monthly payments of £367.32 and 96 monthly payments of £874.92. The total amount payable would be £327,533.22 made up of the loan amount plus interest, Completion fee of £1,495, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.19% Fixed until 30/09/2023
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 3.7% APRC
Early Repayment Charges 5% until 30 September 2019,
then
5% until 30 September 2020,
then
4% until 30 September 2021,
then
3% until 30 September 2022,
then
2% until 30 September 2023
Max LTV 60%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2023 at 2.19% and then our RMVR variable rate currently 4.99% for the remaining term would require 60 monthly payments of £401.51 and 96 monthly payments of £869.02. The total amount payable would be £327,522.45 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Initial rate payable 2.52% Fixed until 30/09/2023
Changing to 4.99%
our current RMVR a variable rate for the remainder of the term
The overall cost for comparison is 4.1% APRC
Early Repayment Charges 5% until 30 September 2019,
then
5% until 30 September 2020,
then
4% until 30 September 2021,
then
3% until 30 September 2022,
then
2% until 30 September 2023
Max LTV 80%
Mortgage fees Application:£0
Completion:£0
Find out more
The APRC is calculated based on the following: An interest only mortgage of £340,000 payable over 19 years 6 months initially on a rate fixed until 30/09/2023 at 2.52% and then our RMVR variable rate currently 4.99% for the remaining term would require 60 monthly payments of £714.01 and 174 monthly payments of £1,343.02. The total amount payable would be £616,510.12 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
Product name Initial rate payable Changing to The overall cost for comparison is Early Repayment Charges Max LTV Mortgage fees  
2 Year Fixed Rate Mortgage Interest Only Standard Fee for Purchase & Remortgage 1.72% Fixed until 30/09/2020 4.99%
our current RMVR a variable rate for the remainder of the term 		4.4% APRC 2% until 30 September 2019,
then
1% until 30 September 2020 		70% Application:£0
Completion:£995 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £265,000 payable over 16 years 6 months initially on a rate fixed until 30/09/2020 at 1.72% and then our RMVR variable rate currently 4.99% for the remaining term would require 24 monthly payments of £381.26 and 174 monthly payments of £1,050.70. The total amount payable would be £457,956.88 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage Interest Only No Fee for Purchase & Remortgage 2.19% Variable (BoEBR + 1.44%). The pay rate will not go below a floor of 1.94%. 4.99%
our current RMVR a variable rate for the remainder of the term 		4.5% APRC 0.5% for 2 years from completion 80% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £340,000 payable over 19 years 6 months on our variable tracker rate for 2 years at 1.44% above BoEBR and then on our current RMVR variable rate of 4.99%(variable) would require 25 monthly payments of £620.51 and 209 monthly payments of £1,343.07. The total amount payable would be £636,301.29 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage Interest Only No Fee for Purchase & Remortgage 1.99% Variable (BoEBR + 1.24%). The pay rate will not go below a floor of 1.74%. 4.99%
our current RMVR a variable rate for the remainder of the term 		4.3% APRC 0.5% for 2 years from completion 60% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years on our variable tracker rate for 2 years at 1.24% above BoEBR and then on our current RMVR variable rate of 4.99%(variable) would require 25 monthly payments of £364.84 and 131 monthly payments of £869.05. The total amount payable would be £342,973.23 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Base Rate Tracker Mortgage Interest Only No Fee for Purchase & Remortgage 2.09% Variable (BoEBR + 1.34%). The pay rate will not go below a floor of 1.84%. 4.99%
our current RMVR a variable rate for the remainder of the term 		4.4% APRC 0.5% for 2 years from completion 70% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £265,000 payable over 16 years 6 months on our variable tracker rate for 2 years at 1.34% above BoEBR and then on our current RMVR variable rate of 4.99%(variable) would require 25 monthly payments of £461.55 and 173 monthly payments of £1,046.81. The total amount payable would be £457,700.33 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Fixed Rate Mortgage Interest Only No Fee for Purchase & Remortgage 1.92% Fixed until 30/09/2020 4.99%
our current RMVR a variable rate for the remainder of the term 		4.3% APRC 2% until 30 September 2019,
then
1% until 30 September 2020 		60% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2020 at 1.92% and then our RMVR variable rate currently 4.99% for the remaining term would require 24 monthly payments of £352.00 and 132 monthly payments of £869.02. The total amount payable would be £343,165.48 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
2 Year Fixed Rate Mortgage Interest Only No Fee for Purchase & Remortgage 2.19% Fixed until 30/09/2020 4.99%
our current RMVR a variable rate for the remainder of the term 		4.5% APRC 2% until 30 September 2019,
then
1% until 30 September 2020 		80% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £340,000 payable over 19 years 6 months initially on a rate fixed until 30/09/2020 at 2.19% and then our RMVR variable rate currently 4.99% for the remaining term would require 24 monthly payments of £620.51 and 210 monthly payments of £1,343.02. The total amount payable would be £636,910.38 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
3 Year Fixed Rate Mortgage Interest Only Standard Fee for Purchase & Remortgage 1.74% Fixed until 30/09/2021 4.99%
our current RMVR a variable rate for the remainder of the term 		4.0% APRC 3% until 30 September 2019,
then
2% until 30 September 2020,
then
1% until 30 September 2021 		60% Application:£0
Completion:£995 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2021 at 1.74% and then our RMVR variable rate currently 4.99% for the remaining term would require 36 monthly payments of £320.45 and 120 monthly payments of £872.95. The total amount payable would be £337,291.50 made up of the loan amount plus interest, Completion fee of £995, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
5 Year Fixed Rate Mortgage Interest Only High Fee for Purchase & Remortgage 1.99% Fixed until 30/09/2023 4.99%
our current RMVR a variable rate for the remainder of the term 		3.6% APRC 5% until 30 September 2019,
then
5% until 30 September 2020,
then
4% until 30 September 2021,
then
3% until 30 September 2022,
then
2% until 30 September 2023 		60% Application:£0
Completion:£1,495 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2023 at 1.99% and then our RMVR variable rate currently 4.99% for the remaining term would require 60 monthly payments of £367.32 and 96 monthly payments of £874.92. The total amount payable would be £327,533.22 made up of the loan amount plus interest, Completion fee of £1,495, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
5 Year Fixed Rate Mortgage Interest Only No Fee for Purchase & Remortgage 2.19% Fixed until 30/09/2023 4.99%
our current RMVR a variable rate for the remainder of the term 		3.7% APRC 5% until 30 September 2019,
then
5% until 30 September 2020,
then
4% until 30 September 2021,
then
3% until 30 September 2022,
then
2% until 30 September 2023 		60% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £220,000 payable over 13 years initially on a rate fixed until 30/09/2023 at 2.19% and then our RMVR variable rate currently 4.99% for the remaining term would require 60 monthly payments of £401.51 and 96 monthly payments of £869.02. The total amount payable would be £327,522.45 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
5 Year Fixed Rate Mortgage Interest Only No Fee for Purchase & Remortgage 2.52% Fixed until 30/09/2023 4.99%
our current RMVR a variable rate for the remainder of the term 		4.1% APRC 5% until 30 September 2019,
then
5% until 30 September 2020,
then
4% until 30 September 2021,
then
3% until 30 September 2022,
then
2% until 30 September 2023 		80% Application:£0
Completion:£0 		Find out more
The APRC is calculated based on the following: An interest only mortgage of £340,000 payable over 19 years 6 months initially on a rate fixed until 30/09/2023 at 2.52% and then our RMVR variable rate currently 4.99% for the remaining term would require 60 monthly payments of £714.01 and 174 monthly payments of £1,343.02. The total amount payable would be £616,510.12 made up of the loan amount plus interest, CHAPS fee of £6. The interest rates quoted include a 0.25% Direct Debit discount.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

*To help maintain service and quality, some telephone calls may be recorded and monitored.

Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice. Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

Version Info: