2 Year Discount

Our 2 Year Discount Variable Mortgage offers a discount of 3.40% off our standard variable rate, currently 5.34%, for 2 years giving a current rate payable of 1.94% which won't fall below 1.50% for a period of 2 years from completion. This is followed by our standard variable rate applicable at that time. The interest rate charged won't fall below 2%.

Initial rate Overall cost for
comparison
Max % LTV Completion
fee
Representative
Example
1.94% 4.6% APRC 90% £999 View

Representative example

A Mortgage of  £221,778.00, payable over 14 years and 4 months (172 months) initially on a discounted rate for 2 years (24 months) of 1.94% and then on our current standard variable rate of 5.34% for the remaining 12 years and 4 months (148 months) would require 24 monthly payments of £1478.01 then 148 monthly payments of £1796.07. The total amount payable would be £303,162.05 made up of the loan amount plus interest (£79,840.05) with a £999.00 completion fee, £290.00 valuation fee, £30.00 CHAPS fee, legal fees of £105.00 and a mortgage exit administration fee of £120.00. The overall cost for comparison is 4.6% representative APRC.

Key Features

Advance

Minimum £25,000: Maximum £350,000

Loan to Value (LTV)

Maximum 90% (subject to the Society's lending policy)

Term

Minimum 2 years: Maximum 35 years

Availability

This product is available for the purchase or re-mortgage residential 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.  

Portability  

The mortgage product may be transferred to a new mortgage arranged by the borrower(s) subject to the Society’s lending criteria.

Important Information
The interest rate charged won't fall below 1.50% during the discount period and 2% after that time.

Early Repayment Charge Fees How to apply