Second/Holiday Home 3 Year Discount

Our Second/Holiday home mortgages have been designed for people who want to purchase or re-mortgage a second residential property which could include a second residence for work or a holiday home for personal use.

The 3 Year Discount Variable Mortgage offers a discount of 2.85% off our standard variable rate, currently 5.34%, for 3 years giving a current rate payable of 2.49% which won't fall below 1.50% for a period of 3 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
2.49% 4.6% APRC 80% £499 View

Representative example

A Mortgage of  £237,564.00, payable over 18 years and 8 months (224 months) initially on a discounted rate for 3 years (36 months) of 2.49% and then on our current standard variable rate of 5.34% for the remaining 15 years and 8 months (188 months) would require 36 monthly payments of £1,327.13 then 188 monthly payments of £1,622.84. The total amount payable would be £354,310.66 made up of the loan amount plus interest (£115,772.66) with a £499.00 completion fee, £220.00 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


Minimum £25,000: Maximum £400,000

Loan to Value (LTV)

Maximum 80% (subject to the Society's lending policy)


Minimum 3 years: Maximum 35 years


This product is available for the purchase or re-mortgage of a second 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.  


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