2 Year Discount

Our 2 Year Discount Variable Mortgage offers a discount of 2.89% off our standard variable rate, currently 5.34%, for 2 years giving a current rate payable of 2.45% 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
Max % LTV Completion
2.45% 4.9% APRC 85% £999 View

Representative example

A Mortgage of  £240,865.00, payable over 17 years and 7 months (211 months) initially on a discounted rate for 2 years (24 months) of 2.45% and then on our current standard variable rate of 5.34% for the remaining 15 years and 7 months (187 months) would require 24 monthly payments of £1,406.17 then 187 monthly payments of £1,722.94. The total amount payable would be £358,035.76 made up of the loan amount plus interest (£115,626.76) 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 4.9% representative APRC.

Key Features


Minimum £150,000: Maximum £750,000

Loan to Value (LTV)

Maximum 85% (subject to the Society's lending policy)


Minimum 2 years: Maximum 35 years


This product is available for the purchase or re-mortgage residential property in mainland England and Wales for the applicants own use. Sole applicants must be earning a minimum of £50,000 and joint applicants must be jointly earning a minimum of £75,000.  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 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