We offer a wide range of mortgages which come with a number of other added-value benefits to keep costs to a minimum.
Standard variable rate mortgage
This is our standard variable rate that can change from time to time.
Our current standard variable rate.
Discounted standard variable rate mortgages
A discount off our standard variable rate (SVR) for a set period from the start of your mortgage will give you time to adjust to your new financial budgets. The rate you pay could change if the SVR changes, although the amount of discount you get will stay the same. After the discounted period, you start paying our SVR. If you repay part, or all of the mortgage during the discount period you may have to pay an early repayment charge.
Our current discounted standard variable rates.
Fixed rate mortgages
From time to time we have fixed rate mortgages available. With a fixed rate mortgage the interest rate you pay is fixed for a set period from the start of your mortgage. Whatever happens to other interest rates in that time, the fixed rate you pay will not change. At the end of the fixed rate period, you start paying our variable mortgage rate. If you repay part, or all of the mortgage during the fixed rate period you may have to pay an early repayment charge.
Our current fixed rates.
Tracker mortgage rates
With a tracker mortgage rate (TMR), you benefit by paying an interest rate that follows the independent Bank of England base rate (also called the repo rate) throughout the tracker period. You pay a set amount above or below our TMR for a set period from the start of your mortgage. The rate you pay could change if the Bank of England base rate changes but we guarantee you will not pay more than the set amount above or below our TMR during the TMR period. At the end of the TMR period, you pay our variable mortgage rate. If you repay part, or all of the mortgage during the tracker period you may have to pay an early repayment charge.
Our current tracker mortgage rates.
Commercial mortgages
Commercial mortgages are available on business premises that are situated in England and Wales. If you are looking to refinance your existing business borrowings, or purchase new premises, contact us for more details on how we can help you.
Our lending will be based on up to 60% of the purchase price/property valuation with a minimum mortgage of £50,000 and a maximum of £500,000. The term can be up to 30 years and the interest rates are at a negotiable margin over our commercial mortgage rate. Early repayment charges apply for the first 5 years only.
The Society has a flexible approach to lending and our Commercial Lending Manager will assess all applications on an individual basis. Please telephone us on 0115 956 4653 for more details.
Buy to let variable mortgage rate
This is our variable mortgage rate that can change from time to time.
Our current buy to let variable mortgage rate
Buy to let fixed rate mortgages
From time to time we have fixed rate mortgages available. With a fixed rate mortgage the interest rate you pay is fixed for a set period from the start of your mortgage. Whatever happens to other interest rates in that time, the fixed rate you pay will not change. At the end of the fixed rate period, you start paying our buy to let variable mortgage rate. If you repay part, or all of the mortgage during the fixed rate period you may have to pay an early repayment charge.
Our current buy to let fixed rates
Buy to let tracker mortgage rates
With a tracker mortgage, you benefit by paying an interest rate that follows the independent Bank of England base rate (also called the repo rate) during the tracker period. You pay a set amount above or below our tracker mortgage rate (TMR) for a specified period from the start of your mortgage. The rate you pay will change if the Bank of England base rate changes but we guarantee that you will not pay more than the set amount above or below our TMR during the TMR period. At the end of the TMR period, you start paying our buy to let variable mortgage rate. If you repay part, or all of the mortgage during the TMR period you may have to pay an early repayment charge.
Our current tracker mortgage rates
Other added-value benefits
- Free basic mortgage valuation for residential applications – This offer does not apply if you want our standard variable rate or our buy to let variable mortgage rate. The valuation offer only applies to your first application. You will have to pay the full fee for any further applications.
- No higher lending charge - if your loan is 90% or less of the property valuation or purchase price. For buy to let we don't apply a higher lending charge.
- Free legal fees - if you are remortgaging your own property or your buy to let property to us, you may be able to take advantage of our free legal fee service. We pay the legal fee you would normally have to pay for the usual legal work associated with a straightforward remortgage. More details
- Extra one-off payments without paying an early repayment charge - an option to make extra one-off payments (minimum £500) of up to 10% of the original loan amount in each 12 month period from the start date of the product term to the end of the early repayment charge period of your loan without paying an early repayment charge. This feature is available on our residential and buy to let products. More details
- Portability - if you move home or sell your buy to let property and buy a new property to let during any tracker, discounted or fixed rate period, you can transfer ('port') the rest of the tracker, discounted or fixed rate left to run to a new mortgage with us on the new property, without paying an early repayment charge. More details
- Daily interest - on our residential tracker mortgages, buy to let mortgages and commercial mortgages we re-calculate the new interest on your mortgage as soon as you make a payment, by immediately reducing your mortgage balance and re-calculating interest on your new lower balance from the next day to the end of the month. This reduces the amount of interest we charge to your mortgage.