Ask us your question

Need help?

Fixed Rate Mortgages Terms and Conditions

Full Terms and Conditions relating to our 5 Year Fixed Mortgage Product - up to 90% Loan to Value


  • New customers for the purchase or remortgage of their main or second residential property only. Existing customers for additional borrowing or product transfer of their main residential property only.
  • Available on capital and interest repayment method only.
  • Applicant(s) to be either employed, self-employed or retired (confirmation of income will be required).
  • Applicant(s) must be at least 18 years of age and be UK residents.
  • Houses and flats (subject to lending policy criteria, please ask for further details) within England (including Isle of Wight) and Wales are an accepted type of security. For a list of unacceptable property, types please speak to your Mortgage Adviser.
  • Purchase/Remortgage will not be acceptable unless the owner/vendor has been registered with the Land Registry for at least six months.
  • Product Availability: This product may be withdrawn with little or no notice. To ensure funds are reserved it is essential that a residential mortgage application form is fully completed and submitted and any application fee is paid
  • Property Insurance: Prior to completion, the Society will need to be satisfied that the insurance cover meets its minimum requirements. Full details of minimum requirements are available on request.

Interest Rate:

  • 3.90% Fixed until 31 May 2026.
  • Then changing to our Standard Variable Rate (SVR) currently 5.19% variable.
  • The overall cost for comparison is 4.9% Annual Percentage Rate of Charge (APRC)*.
  • Completion must take place on or before 31 May 2021. Please note that if your mortgage does not complete by the 31 May 2021, you will not benefit from the full 5 year fixed rate period quoted.
  • As interest is calculated on a daily basis, any overpayments you make will immediately reduce the amount you owe and the amount of interest you pay.
  • At the end of the fixed rate period the rate will revert to the Society’s Standard Variable Rate, applicable at that time which will not fall below 3.00% at any time during the life of the mortgage.
  • The Society reserves the right to withdraw the fixed rate if you cease to occupy the property as your main residence. The Society’s Standard Variable Rate, applicable at that time, would then apply.

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


  • Minimum loan £100,000.
  • Maximum loan £1,500,000 (loan size restrictions apply see below).
    Loan amount Maximum Percentage
    Up to £400,000 90%
    £400,001 to £500,000 80%
    £500,001 plus 75%
  • Maximum loan to value is 90% (excluding any fees added to the loan). Loan to value is your total mortgage amount divided by the purchase price or valuation whichever is the lower.
  • Maximum loan to value for capital raising (for anything other than home improvements, purchase or transfer of equity) is 75% (excluding any fees added to the loan).


  • Early Repayment Charge: If the mortgage is repaid either in whole or in part, or is transferred to an alternative product, before 31 May 2026 then an early repayment charge will apply. This charge will be based on; 5% of the outstanding loan if the mortgage is repaid before 31 May 2022, 4% of the outstanding loan if the mortgage is repaid before 31 May 2023, 3% of the outstanding loan if the mortgage is repaid before 31st May 2024, 2% of the outstanding loan if the mortgage is repaid before 31 May 2025 and 1% of the outstanding loan if the mortgage is repaid before 31 May 2026. Capital repayments, which are not subject to the above early repayment charge, can be made of up to 10% of the original loan amount (original transfer amount if variation) in any 12 month period from the date of completion.
  • One free standard mortgage valuation for all purchase, remortgage or additional borrowing applications. If a valuation is required in connection with a product transfer then a valuation fee will be payable (per scale). Please refer to the Tariff of Mortgage Charges leaflet for further details.
  • A Mortgage Exit Fee is payable at the prevailing rate on full repayment (redemption) of your mortgage.

Additional Borrowing:

  • If you qualify additional funds may be made available using the Society’s Additional Borrowing facility, subject to our lending criteria at the time of applying for additional borrowing. Further details are available on request.


  • You will receive cash back of £500 on completion of your mortgage. Not available for product transfers or additional borrowing.

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 £125,000.00 on a capital and interest (repayment) basis payable over 25 years initially on a fixed rate for 5 years fixed at 3.90% and then on our Standard Variable Rate (SVR) of 5.19% (variable) for the remaining 20 years you would pay:

1 monthly repayment of £13.36, followed by
60 monthly repayments of £650.86, followed by
240 monthly repayments of £725.69

The total amount payable would be £213,370.56 made up of the loan amount of £125,000.00 plus interest (£88,230.56) a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 4.7% 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.


  • This product is portable. If you move home, this mortgage product may be transferred to your new property (subject to terms and conditions) – please see our 'Fixed Rate Portability Sheet' at the bottom of this page for details.

Mortgage IllustrationThis product page does not contain all of the details you need to choose a mortgage. Please speak to your Mortgage Adviser who will provide you with a mortgage illustration, which will detail all the features of a particular mortgage. Please make sure you read the mortgage illustration before you make a decision on your choice of mortgage product.

This product page should be read in conjunction with our Homebuyers Guide booklet, Fixed Rate Portability Sheet and the Statement of Practice – Borrowers booklet. For other charges which may apply, see our Tariff of Mortgage Charges.