Family Buy to Let 3 Year Discount

Designed to enable you to let to a close family member, our Family Buy to Let 3 Year Discount Variable Mortgage offers a discount of 2.14% off our standard variable rate, currently 5.34%, for a period of 3 years from completion, followed by our standard variable rate applicable at that time. The interest rate charged won't fall below 2%.

Initial rate Overall cost for
Max % LTV Completion
3.20% 5.0% APRC 80% £999 View

Representative example

A mortgage of £171,448.00 payable over 17 years and 3 months (207 months) initially on a discounted rate for 3 years (36 months) of 3.20% and then on our standard variable rate of 5.34% for the remaining 14 years and 3 months (171 months) would require 36 monthly payments of £457.19 then 171 monthly payments of £762.94. This is based on an interest-only repayment method. The total amount payable would be £320,318.64 made up of the loan amount plus interest (£147,356.64) with a £999.00 completion fee, £260.00 valuation fee, £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 LTV - 80% (subject to Society lending policy)

Minimum 3 years: Maximum 25 years


This product is available for the purchase or re-mortgage of property (flats, apartments or maisonettes are not acceptable) which is to be let to a close family member/relative (i.e. the applicants parent(s), brother, sister, child, grandparent, grandchild, Step relative or in-law, current or Ex, spouse or civil partner), in mainland England and Wales. All applications are subject to the Society’s general lending criteria, property value and satisfactory status enquiries.

This product is a limited edition and cannot be guaranteed until an application has been received. Applications will be restricted to a maximum of 4 per borrower with a total maximum borrowing of £500,000.

Minimum Valuation
£70,000 per property in LE, NG or DE postcodes
£90,000 per property outside of these areas in mainland England and Wales

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 2%.

Early Repayment Charge Fees How to apply