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.

This product includes a discount of 2.55% off the Society’s standard variable mortgage interest rate (SVR), currently 5.34% for 3 years giving a current rate payable of 2.79% which will not go below a floor of 1.50%. At the end of the 3 years the Society’s prevailing standard variable mortgage interest rate will apply. The SVR interest rate charged cannot go below 2%.

Initial rate Overall cost for
Max % LTV Completion
2.79% 4.5% APRC 80% £499 View

Representative example

A Mortgage of  £157,290.00, payable over 13 years and 10 months (166 months) initially on a discounted rate for 3 years (36 months) of 2.79% and then on our current standard variable rate of 5.34% for the remaining 10 years and 10 months (130 months) would require 36 monthly payments of £1,143.20 then 130 monthly payments of £1,300.17. The total amount payable would be £211,287.08 made up of the loan amount plus interest (£53,243.08) with a £499.00 completion 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 4.5% 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.  

Valuation Fee 

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

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