Discount Mortgages

Get a great deal on your mortgage with a Discount Mortgage from Leek United. Choose from a range of products that guarantee a defined discount below our standard variable rate (SVR).

  • Up to 90% loan to value
  • No early repayment charges
  • Free mortgage advice over the phone or in your local branch
  • Voted ‘Best Variable Rate Mortgage Lender’ at the 2018/19 Personal Finance Awards
  • Competitive interest rates

With free mortgage advice from the comfort of your own home, start saving today with a discount mortgage from Leek United.  Enquire below, visit us in branch or call

0808 169 6681

Call us free between 9am - 5pm (Monday - Friday) to make an appointment with one of our Qualified Mortgage Advisers.

Appointments available between:

8am - 7pm Monday - Thursday

8am - 5pm - Friday

9am - 4pm - Saturday

If you call outside these hours please leave a message and we will call back as soon as possible during office hours.

Discount Mortgages

Product Product Fee Application Fee Initial Rate Reverting to standard variable rate currently Overall cost for comparison Terms and Conditions
1302 2 Year Discount - up to 80% Loan to Value WITH £400 CASHBACK £0 £0 1.60% Variable for 2 years (our standard variable rate minus 3.59% discount) 5.19% 4.8% Annual Percentage Rate of Charge (APRC)* View
1299 Interest Only 2 Year Discount - up to 75% Loan to Value** £0 £0 2.50% Variable for 2 years (our standard variable rate minus 2.69% discount) 5.19% 4.9% Annual Percentage Rate of Charge (APRC)* View

* The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

​** If you choose an interest only mortgage, you must have a clearly understood and credible repayment strategy in line with the Society’s responsible lending criteria.

Representative Example (based on a house purchase):

The Annual Percentage Rate of Charge (APRC) varies with the circumstances of each mortgage. Here is a representative example of a loan secured on your main residential property: A mortgage of £150,000.00 on a capital and interest (repayment) basis payable over 25 years initially on a discounted variable rate of 1.60% (equal to 3.59% discount off our Standard Variable Rate) for 2 years and then on our Standard Variable Rate (SVR) of 5.19% (variable) for the remaining 23 years you would pay:

1 monthly repayment of £104.92, followed by
24 monthly repayments of £606.20, followed by
276 monthly repayments of £866.69

The total amount payable would be £254,000.16 made up of the loan amount of £150,000.00 plus interest (£103,860.16) a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 4.6% APRC representative.

Please note: the example above is for a residential property purchase only and assumes a payment date of 1st of the month. If you choose to pay your mortgage later in the month this will affect payments and could result in a higher APRC. For product transfers, re-arrangement and additional borrowing applications, certain fees do not apply. Please speak to your mortgage adviser for further details.