Our 2 Year Discount Variable Mortgage includes a discount of 3.55% off the Society’s standard variable mortgage interest rate (SVR), currently 5.34% for 2 years giving a current rate payable of 1.79% which will not go below a floor of 1.50%. At the end of the 2 years the Society’s prevailing standard variable mortgage interest rate (SVR) will apply. The SVR interest rate charged cannot go below 2%.
2 Year Discount
Minimum £50,000: Maximum £500,000
Loan to Value (LTV)
Maximum 80% (subject to the Society’s lending policy)
Minimum 2 years: Maximum 40 years
This product is available for the purchase or re-mortgage of property in mainland England and Wales for the applicants own use. All applications are subject to the Society’s general lending criteria, property valuation and satisfactory status enquiries. This product is a limited edition and cannot be guaranteed until an application has been received.
The Society will pay the cost of a standard mortgage valuation fee.
The interest rate charged won’t fall below 2%.
No early repayment charges apply.
Partial Lump Sum Repayment
Partial lump sum repayments of any amount are permitted.
A fee of £699.00 is payable on completion. This fee can be added to the loan (subject to LTV limits).
A valuation for mortgage purposes will be required on application. The Society will pay the cost of a standard mortgage valuation.
On completion, the advance will be released to the appointed Solicitor by CHAPS (Clearing House Automated Payment Service). A fee of £30.00 is payable on completion. This fee can be added to the loan subject to LTV limits.
Mortgage Exit Administration Fee /Additional Fees
£120.00 inclusive of £35.00 Deeds Release Fee and £85.00 Sealing Fee. Additional administration fees may apply during the life of your mortgage. Details of these can be found in the Tariff of Charges leaflet.
The Loughborough mortgage service is tailored to each individual and offered on a fully advised basis where applicable. Our qualified advisers will spend time with you to understand your mortgage needs and financial circumstances before recommending the most suitable solution for you.