Our discount mortgage does precisely what its name says it will do: it gives you the benefit of a reduced interest rate during the first few years of your mortgage, with the amount of discount depending on the size of your deposit.
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Your home may be repossessed if you do not keep up repayments on your mortgage
Our discount mortgages
|Product||Initial rate||then changing to our SVR, currently||The overall cost for comparison is||Product period||Deposit required||Arrangement fee|
|Three Year Discount Mortgage||1.95% Variable||5.39%||4.5% APRC||three years||40%||None||More|
|Three Year Discount Mortgage||2.29% Variable||5.39%||4.6% APRC||three years||30%||None||More|
|Three Year Discount Mortgage||2.39% Variable||5.39%||4.6% APRC||three years||20%||None||More|
|Three Year Discount Mortgage||3.29% Variable||5.39%||4.9% APRC||three years||10%||None||More|
The following representative example is intended to allow you to easily compare products across lender and does not reflect what your actual monthly payment or APRC could be. Please contact us if you have any questions regarding this.
A mortgage of £90,030 payable over 12 years, initially on a Discount rate for 3 Years at 1.95% and then on our current Standard Variable Rate Mortgage of 5.39% (variable) for the remaining 9 years, would require 36 monthly payments of £146.30 and 108 monthly payments of £404.38.
The total amount payable would be £139,523.82 made up of the loan amount plus interest (£49,523.82), an application fee of £135 and a redemption fee of £130.
The overall cost for comparison is 4.5% APRC representative.