Discounted variable rate

This discounted rate mortgage gives you a set discount off our Standard Variable Rate (SVR) for an agreed period, giving you lower initial monthly payments.

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.

Product Criteria

• Free valuation
• Minimum age 21
• Interest only or repayment
• Interest only to 70% max LTV and subject to an acceptable repayment strategy
• Minimum term: five years
• Maximum Term 40 Years
• Minimum loan size: £30,000.
• Maximum loan size: £1,000,000 up to 80% LTV or £500,000 above 80% LTV. Loans over this are priced on a bespoke basis and have restricted LTV’s
• The interest rate charged will not fall below 1.74% (the minimum interest rate) at any point during the mortgage.
• * Overpayments of up to 10% per annum are allowed without penalty