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6.59% Offset (2.60% discounted rate from follow on rate) for 2 years (XO0075)

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

6.59% Offset (2.60% discounted rate from follow on rate) for 2 years (XO0075)

6.59% 9.19% 9.2%APRC
  • Interest-Only
  • Repayment
60% £999~

£100 cashback to open and fund linked Offset Saver account^

Key things to bear in mind

  • Purpose - Offset applications for Purchase and Remortgage
  • Options Available - Payment reduction or Balance reduction. Balance reduction only available for repayment mortgages.
  • Discount - 2.60% applied to our Residential Investment Managed Mortgage Rate for 2 years
  • Minimum Rate - 4.09%
  • Loan to Value - Maximum 60%
  • Application fee - £175 + Valuation Fee
  • Valuation Fees (Purchase) - Full standard valuation fee scale applies 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 (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 the loan amount
  • ^Cashback - £100 to open and fund linked Offset Saver account
  • Early Repayment Charges - 2% in the first year, 1% in the second 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
  • Cost for comparison - 9.2% APRC
  • Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage. On completion of the mortgage, a cashback amount will be used to open your linked Offset Saver account: £100 for remortgages and purchases.
Buy to Let calculator Email us Ask us to call back Summary & fees

More downloads & what you'll need to apply

Identification

We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.

Bank statements

Buy to Let applicants are normally required to have an existing UK mortgage. We carry out an electronic credit check on all applicants which may show the performance of these. If this fails to show their existing mortgage(s), 12 months proof of conduct is required. To speed up our underwriting, you can provide this on submission.

Proof of income

A copy of the existing / proposed tenancy agreement.

Other items

Applicants are required to have an existing UK mortgage. We carry out an electronic credit check on all applicants which may show the performance of these. If this fails to show their existing mortgage(s), 12 months proof of conduct is required. To speed up our underwriting, you can provide this on submission.

Tenancy agreement

  • For remortgages, a copy of the existing / proposed tenancy agreement.

Background BTLs

  • 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 accounts

  • Offset Saver application form.

Expat applications

  • Applicants are required to provide a UK contact where the Society is able to serve notice regarding the mortgage. This can be a UK Solicitor or close family member in the UK.

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.

Case study - Helping the retired back into home ownership

When their landlady told them she wanted to sell the house, David and his wife decided to get back on the property ladder

View full case study

Over 125 years of helping people move in

For a long time we've been trusted to lend to a wide variety of people with a more small scale, personal approach as shown in our awards.

More about who we areView our awards

Contact our expert UK team

New enquiries

Savings - 03330 140141

Mortgages - 03330 140140

newbusiness@familybsoc.co.uk

Existing customers

Savings - 03330 140144
 savings.service@familybsoc.co.uk

Mortgages - 03330 140146
 mortgage.service@familybsoc.co.uk

...or ask the way that suits you.

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Visit us in branch

Ashley Square, Epsom, Surrey, KT18 5DD.

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