Notices

  • Please note that the Premium Saver (6) has now been withdrawn from sale.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)

3.14% 3 year discounted rate by 2.40%

The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Initial interest rate Current follow on rate Overall cost for comparison Repayment or Interest-Only? Max % Loan to Value (LTV) Product fees Additional
benefits

3.14% 3 year discounted rate by 2.40%
3.14% 5.54% 5.1%APRC
  • Interest-Only
 60% £599~ £500 cashback for remortgages^

Key things to bear in mind

  • Purpose - Purchase, remortgage, product switch and further advance
  • Discount - 2.40% discount applied to our Managed Mortgage Rate for the first 3 years
  • Minimum rate - 3.14%
  • LTV - Maximum 60%.
  • Application Fee - £175 + Valuation Fee for purchase and remortgage. (£125 for further advance, £0 for product switch)
  • Valuation Fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount
  • ~Product Fee - £599 for loans up to £500,000. For loans above £500,000 0.3% of the loan amount. (£0 for further advance, £0 for product switch)
  • ^Cashback - £500 for remortgage applications
  • Early Repayment Charges - 3% in the first year, 2% in the second year, 1% in the third year
  • 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 - 5.1% APRC

 
Affordability calculator Email us Ask us to call back Summary & fees

Representative example

A mortgage of £165,000.00 payable over 14 years initially on a discounted variable rate for 3 years at 2.40% below our variable Managed Mortgage Rate  and then on our variable Managed Mortgage Rate, currently 5.54% would require 35 monthly payments of £431.75 and 133 monthly payments of £761.51 plus one initial interest payment of £441.17.

The total amount payable would be £282,707.25 made up of the loan amount plus interest of £116,833.25, an Application Fee of £175, a Product Fee of £599 and a Mortgage Exit Fee of £100.

The overall cost for comparison is 5.1% APRC representative.

More downloads & what you'll need to apply

More mortgage downloads

Case study - A repayment mortgage even in retirement

Christine and her husband were looking for a repayment mortgage in their retirement but needed a long mortgage term.

View full case study

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Savings - 03330 140141

Mortgages - 03330 140140

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Mortgages - 03330 140146

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