A discount mortgage is a type of variable-rate mortgage. The term 'discount' is used because the interest rate is set at a certain 'discount' below our Standard Variable Rate (SVR) for a set period of time.
Having a discount mortgage means you can be sure that your rate will always remain below our SVR for the length of the deal.
Our current range of discounted mortgages are detailed below. If you need further information on these products and woulld like to discuss with a Qualified Mortgage Adviser, we'd love to hear from you.
|Product||Product Fee||Application Fee||Initial Rate||Reverting to standard variable rate currently||Overall cost for comparison||Terms and Conditions|
|2 Year Discount - up to 80% Loan to Value WITH £400 CASHBACK||£0||£0||1.40% variable for 2 years (our standard variable rate minus 3.79% discount)||5.19%||4.8% Annual Percentage Rate of Charge (APRC)*||View|
|Interest Only 2 Year Discount - up to 75% Loan to Value**||£0||£0||1.85% Variable for 2 years (our standard variable rate minus 3.34% discount)||5.19%||4.8% Annual Percentage Rate of Charge (APRC)*||View|
* The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
^ Source: Moneyfacts dated 9 July 2018