Buying a home
2 Year Discount Borrowing into Retirement

Our 2 Year Discount Borrowing Into Retirement Mortgage offers a discount of 2.55% off our standard variable rate, currently 5.34%, for a period of 2 years from completion, followed by our standard variable rate applicable at that time. The interest rate charged won't fall below 2.00%.

Initial rate Overall cost for
Max % LTV Completion
2.79% 5.0% APRC 60% £0 View

Representative example

A Mortgage of  £100,738.00, payable over 14 years and 1 months (169 months) initially on a discounted rate for 2 years (24 months) of 2.79% and then on our current standard variable rate of 5.34% for the remaining 12 years and 1 months (145 months) would require 24 monthly payments of £234.22 then 145 monthly payments of £448.28. This is based on an interest-only repayment method. The total amount payable would be £171,838.24 made up of the loan amount plus interest (£70,845.24) and a £30.00 CHAPS fee, £105.00 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.0% representative APRC.

Key Features


Minimum £25,000: Maximum £350,000

Loan to value (LTV)

Maximum 60% (subject to the Society's lending policy)


Minimum 2 years: Maximum 35 years


This product is available to applicants who are either;

a) aged 80 on application or b) will be 80 or over at the end of their mortgage term The 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 lending criteria, property value and satisfactory status enquiries. 

This product is a limited edition and cannot be guaranteed until an application has been received

Free Valuation

The Society will pay the cost of a standard mortgage valuation.


£250 cashback will be paid on completion of the mortgage.

Important Information

The interest rate charged won't fall below 2%.

Early Repayment Charge Fees How to apply