Please note that the Premium Saver (6) has now been withdrawn from sale. If you have opened an account, you may add funds until 3pm, 16 August 2022, after this no additions will be allowed. Find out more.
Rate changes following Bank of England decision to raise its Bank Rate to 1.75% on 4 August 2022.
Savings: Rate increases for Windfall Bond and Tracker Savings Bond apply from 1 September. (Updated 04/08/22)
Mortgages: Tracker mortgages will change on 25 September and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. (Updated 04/08/22)
3.89% 2 year discounted rate by 2.40% 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 - 2.40% applied to our Residential Investment Managed Mortgage Rate for 2 years
- Minimum rate - 3.89%
- Loan to Value - Maximum 60%
- Application Fee - £175 + Valuation Fee (£125 for further advance, £0 for switch)
- Valuation Fees (Purchase) - Based on the greater of the purchase price or value of the property.
- Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount.
- 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. (£0 for further advance and switch)
- 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.
- Cost for comparison - 6.2% APRC
- Additional benefits:
- ^Cashback - £100 for purchase and remortgage
- Early Repayment Charges - 2% in the first year and 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
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