Notices
6.74% Offset Mortgage 2.45% Discounted Rate from follow on rate for 2 years (XO0076)
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 - 2.45% applied to our Residential Investment Managed Mortgage Rate for 2 years
- Minimum rate - 4.24%
- Loan to Value - Maximum 70%
- Application Fee - £175 + Valuation Fee. (£125 for further advance and £0 for product switch)
- 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. (£0 for further advance and £0 for product 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 - 9.3% APRC
- 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
• Buy to Let Offset Mortgage brochure
• Purchase and remortgage product summary pack
• Existing borrower product switch product summary pack
• Further advance product summary pack
• Purchase and remortgage product summary pack
• Existing borrower product switch product summary pack
• Further advance product summary pack
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
BTL 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.
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.
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 - 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 studyOver 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.
Contact our expert UK team
Existing customers
Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
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Ashley Square, Epsom, Surrey, KT18 5DD.
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