Service update - due to planned essential maintenance our Online Service will be unavailable on Friday 28 January from 18:00 until Saturday 29 January 12:00.
Following the Bank of England’s decision to raise the Bank Rate by 0.15% to 0.25% in December 2021, Windfall Bond and Tracker Savings Bond rates increased by 0.15% from 1 January 2022. Tracker mortgages changed from 25 January and we have written to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. We will be considering our other savings and our variable mortgage rates after the Bank of England MPC meeting on 3 February. (Notice updated 19/01/22)
- Please note that the Premium Saver (5) has now been withdrawn from sale.
If you have opened an account, you may add funds until 3pm, 7 February 2022, after this no additions will be allowed.
Real life mortgage case studies
Our case studies show how our mortgage products have helped real life customers. Read their stories.
The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
At some point in the future, David is intending to downsize but he isn’t quite ready for that just yet. Instead he really wants to take a holiday to Australia and to carry out some work on his home.
After doing some research, David quickly found that mortgage lenders were unable to provide money to fund a holiday. He considered increasing his existing mortgage with the Society to fund the work on his home, but this still meant he couldn’t have his dream holiday.
Helping an existing customer realise his ambitions
As an existing customer, David previously had discussed his situation and ambitions with the Society. After updating our Retirement Lifestyle Booster mortgage product, one of our advisors contacted him to let him know about the changes we had made. It seemed to suit his requirements and meant he would be able to do some work on his house and have his much wanted holiday to Australia.
“Fortunately the updated version of the Retirement Lifestyle Booster provided both a lump sum and a monthly payment. Because these funds could be used for any purpose, it was ideal for my situation.”
“The additional monthly payments from the Society will enable me to carry out the work I need to do on my house without impacting on other aspects of my life, such as holidays.”
Flexible payment options
The Retirement Lifestyle Booster means David will receive a lump sum at the beginning of the term. Each month he will also receive a fixed amount for 10 years. In return, David will pay us a set amount each month to cover the ‘average’ interest due. At the end of the mortgage term, David will be able to sell his current home and downsize as a means of paying off the capital outstanding on the mortgage, just as he’d always planned to do.
“The Retirement Lifestyle Booster is more flexible, the mortgage can be repaid at any time and the monthly income can also be stopped if my circumstances change.”
“Obviously each person’s situation is different and the Retirement Lifestyle Booster may not suit everyone. However I believe it is an excellent product, preferable to equity release and I would recommend anyone in a similar situation to mine to consider this option.”
David was happy with the service he received from our advisor and is very excited for his much longed for holiday.
“When Peter, my advisor, contacted me he opened up a much more favourable possibility and provided a very helpful, well informed and personal service, which culminated in a very satisfactory solution.”
Do you want to make the most of your retirement?
Our Retirement Lifestyle Booster mortgage can help give your income a boost so you can afford those extra things in life.