Discount Schemes
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON YOUR MORTGAGE
We currently have two discount mortgage products available for qualifying Owner Occupied properties in England or Wales only:
1. High Value Discount Mortgage (limited issue)
- 0.50% discount (current interest rate 4.39%) below the Society’s Standard Variable Rate for 2 years. The overall cost for comparison is 5.10% APR.
- Advances up to 50% of the value of the property (for purchase or re-mortgage).
- Arrangement fee of £495.00 payable on application (non-refundable).
- Available for loans between £500,001 and £750,000.
- Early repayment charge applicable of 1.00% of the full or partial capital repaid within 2 years of inception of the loan
2. 2-Year Discount Mortgage
- 2.60% discount (current interest rate 2.29%) below the Society's Standard Variable Rate for 2 years. The overall cost for comparison is 4.80% APR.
- Advances up to 75% of the value of the property (for purchase or re-mortgage).
- Arrangement fee of £495.00 payable on application (non-refundable).
- Available for loans between £26,000 and £750,000.
- Early repayment charge (ERC) applicable of 2.00% of the full or partial capital repaid within 2 years of inception of the loan
- Overpayment without applicable ERC allowed up to 10% per annum.
3. 5-Year Discount Mortgage
- 1.00% discount (current interest rate 3.89%) below the Society's Standard Variable Rate for 5 years. The overall cost for comparison is 4.70% APR.
- Advances up to 75% of the value of the property (for purchase or re-mortgage).
- Arrangement fee of £495.00 payable on application (non-refundable).
- Available for loans between £26,000 and £750,000.
- Early repayment charge applicable of 2.00% of the full or partial capital repaid within 2 years of inception of the loan
All loans subject to status and valuation.
Additional security will be required for loans exceeding 75% of the value of the property.
Written quotations available on request.