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Our residential interest-only products are designed for your clients who have sufficient background assets, such as equity in other property or investments, that can be used to repay the capital in the future. For customers with bespoke requirements or, who wish to borrow more than the published product maximum, please contact us so we can discuss your client’s needs and assess suitability for a tailored solution.

Acceptable repayment strategies
Minimum property value £500k
Larger loans available by negotiation
Up to 85% LTV
Loans up to £3million

Product detail

LTV Mortgage type Term Initial rate Product fee Early repayment charge* Product code
75% Discounted Variable1 2 3.79% 0.5% No ERCs 00645 KIOR1605
75% Fixed 2 3.89% 0.5% 3% in years one and two 00646 KIOR1605
75% Fixed 3 4.09% 0.5% 3% in years one, two and three 00647 KIOR1605
75% Fixed 5 4.09% 0.5% 3% in years one, two, three, four and five 00648 KIOR16F5
85% Discounted Variable2 2 3.79% 1% No ERCs 00649 KIOR1605
85% Fixed 2 3.89% 1% 3% in years one and two 00650 KIOR1605
85% Fixed 3 4.09% 1% 3% in years one, two and three 00651 KIOR1605
85% Fixed 5 4.09% 1% 3% in years one, two, three, four and five 00652 KIOR16F5
1 2.29% | 2 2.29%

Minimum loan £75,000. Maximum loan £3,000,000. When the LTV exceeds 75%, a minimum loan of £100,000 is applicable. 

The Standard variable rate (the revert rate) is 6.08%.

Application fee £130 payable at time of application. This is to cover assessing and processing the application (even if the application is unsuccessful or is withdrawn). Please note that applications will not be processed until this fee is received.

All of our products are subject to availability and may be withdrawn at any time.

*ERCs may be incurred for full redemption or repayment of capital.

Product terms and conditions

  • These products are only available on an interest-only basis.
  • At the end of any initial deal, the interest rate will revert to the Standard variable rate.
  • The Standard variable rate can vary in line with the general level of interest rates and economic conditions.
  • If your client makes any lump sum payments or repays the loan within a special deal period, an early repayment charge may be payable. Please refer to the early repayment charge section of the table for details. Payments up to a maximum of £499 per month can be made without incurring an early repayment charge.
  • A list of our fees and charges accompanies all Mortgage Illustrations.
  • The minimum mortgage term is 5 years and the maximum is 35 years.
  • The maximum loan size is £3m.
  • A maximum LTV 75% applies for interest-only loans on leasehold properties with an unexpred term of less than 85 years at application.
  • Interest is added to the mortgage account for the period from the date the loan is made until the last day of that month. Thereafter, interest is charged monthly on the balance outstanding at the end of the last month. Payments in excess of the required monthly payment will have the effect of reducing the balance outstanding and the amount of interest to be paid.
  • These mortgage products are portable. Even if your client moves home during the initial special deal period of a mortgage, the remaining benefits (up to the outstanding balance of their existing mortgage) of that special deal can be transferred to their new mortgage with us, subject to our lending criteria at the time of any move. In this case, any early repayment charges will not be charged but the existing rate will not apply to any additional funds that your client borrows.
  • All mortgage products are subject to availability of funds and can be withdrawn at any time.

For interest-only or part repayment/part-interest only, it is your client's responsibility to ensure they have sufficient funds available at the end of the term with which to repay the loan.

All loans are subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged 18 or over. Maximum age at the end of the mortgage term is 85. Written quotations are available on request.

OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504) for general insurance intermediation and regulated mortgages


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