Discounted Mortgages

This type of mortgage is discounted from our Standard Variable Rate, which is set by the Society's Board of Directors and can vary upwards and downwards. As the interest rate is variable, payments can vary as the interest rate changes. To help with the upfront cost of the mortgage, no application fee is charged (other fees apply).

Our mortgages

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2 Year Discount 60% LTV

Initial Interest Rate

5.40%

Maximum Loan To Value (LTV)

60%

Overall Cost for Comparison

8.00%

Product Code

DP241

The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 5.40% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make 24 monthly payments of £1,398.70, 48 payments of £1,679.78 and 228 monthly payments of £1,836.85.

The total amount payable would be £534,374.04 made up of the loan amount plus interest of £303,000.04 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£275.00), and a Mortgage Exit Administration Fee (£75.00).

The overall cost for comparison is 8.00% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.

2 Year Discount 80% LTV

Initial Interest Rate

5.50%

Maximum Loan To Value (LTV)

80%

Overall Cost for Comparison

8.00%

Product Code

DP242

The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 5.50% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make 24 monthly payments of £1,412.40, 48 payments of £1,680.76 and 228 monthly payments of £1,837.93.

The total amount payable would be £534,946.12 made up of the loan amount plus interest of £303,622.12 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225), and a Mortgage Exit Administration Fee (£75.00).

The overall cost for comparison is 8.00% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.

2 Year Discount 85% LTV

Initial Interest Rate

5.65%

Maximum Loan To Value (LTV)

85%

Overall Cost for Comparison

8.00%

Product Code

DP207

The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 5.65% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make 24 monthly payments of £1,433.08, 48 payments of £1,682.22 and 228 monthly payments of £1,839.52.

The total amount payable would be £535,875.04 made up of the loan amount plus interest of £304,551.04 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225.00), and a Mortgage Exit Administration Fee (£75.00).

The overall cost for comparison is 8.00% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.

2 Year Discount 90% LTV

Initial Interest Rate

5.95%

Maximum Loan To Value (LTV)

90%

Overall Cost for Comparison

8.10%

Product Code

DP244

The following is a representative example based on a mortgage of £230,000.00 payable over 25 years initially on a discounted variable rate of 5.95% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make 24 monthly payments of £1,474.87, 48 payments of £1,685.06 and 228 monthly payments of £1,842.63.

The total amount payable would be £537,723.40 made up of the loan amount plus interest of £306,399.40 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225.00), and a Mortgage Exit Administration Fee (£75.00).

The overall cost for comparison is 8.10% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.

2 Year Discount 95% LTV

Initial Interest Rate

6.50%

Maximum Loan To Value (LTV)

95%

Overall Cost for Comparison

8.20%

Product Code

DP209

The following is a representative example based on a mortgage of £230,000.00 payable over 25 years initially on a discounted variable rate of 6.50% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make 24 monthly payments of £1,552.98, 48 payments of £1,690.02 and 228 monthly payments of £1,848.05.

The total amount payable would be £541,046.88 made up of the loan amount plus interest of £309,747.88 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£200.00), and a Mortgage Exit Administration Fee (£75.00).

The overall cost for comparison is 8.20% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.