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- Please note that the Premium Saver (5) has now been withdrawn from sale.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.
3.29% 2 year discounted rate by 1.85% Offset Mortgage
The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Key things to bear in mind
- Purpose - Offset applications for purchase, remortgage, product switch and further advance
- Options available - Term reduction or Payment reduction. Find out more about these options here
- Discount - 1.85% applied to our Residential Investment Managed Mortgage Rate for 2 years
- Minimum rate - 3.19%
- Loan to Value - Maximum 70%.
- *Application Fee - £175 + Valuation Fee.
- Valuation Fees (Purchase) - Based on the greater of the purchase price or value of the property. (£0 for further advance and switch)
- Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount. (£0 for further advance and switch)
- Valuation Fees (Further advance and Product Switch) - £0
- Valuation Fees (Multi Unit Freehold Blocks) - A separate valuation fee scale will apply for this property type. For purchase applications, the full Multi-Unit Freehold Block valuation fee scale will apply. For remortgage applications, a discount of £330 from the Multi-Unit Freehold Block valuation fee scale applies.
- ~Product fee - £999 for loans up to £500,000. For loans above £500,000 0.4% of loan amount.
- Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
- Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches.
- Additional benefits:
- ^Cashback - £100 for purchase and remortgage
- Early Repayment Charges - 2% in the first year, 1% in the second year
- Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage. On completion of the mortgage, a cashback amount of £100 will be used to open your linked Offset Saver account.
More downloads & what you'll need to apply
More mortgage downloads
• Purchase and remortgage product summary pack
• Existing borrower product switch product summary pack
• Further advance product summary pack
For remortgages, a copy of the existing / proposed tenancy agreement.
– Evidence of rent being paid in and mortgage being paid out (bank statements may already cover this)
Evidence of deposit for purchases
– Evidence of deposit in a UK account held by the applicant(s)
– For gifted deposits, we require a signed gift letter from the giftor plus evidence of funds in a UK account and the giftors details (names, date of births, relationship to applicants)
– Offset Saver application form
Applicants with four or more mortgaged Buy to Let properties
– We will treat these applications as a portfolio landlord and we require details of their full portfolio and a business plan.
Call our expert UK team
Savings - 03330 140141
Mortgages - 03330 140140
Savings - 03330 140144
Mortgages - 03330 140146