Unlock the door to your first home with our £2,000 Cashback Mortgage plus a chance to WIN £10,000! T&C's apply

Unlock the door to your first home with our £2,000 Cashback Mortgage plus a chance to WIN £10,000! T&C's apply

Unlock the door to your first home with our £2,000 Cashback Mortgage plus a chance to WIN £10,000! T&C's apply

Light Refurbishment - Discount Mortgage for 1 Year

Mortgage Calculator

This shows what you'll pay each month during your initial deal period. It doesn't consider any charges or fees if you decide to make any changes to your mortgage. Please note this is only an estimate.

Light Refurbishment - Discount Mortgage for 1 Year

Initial Pay Rate


Loan to Value






Product Code



Early Replayment Charge: Yes

Incentives: No

Things you need to know

Initial Pay Rate

5.64% Initial Pay Rate for 1 Year which represents a 2.85% discount off our Standard Variable Rate Followed by the Society's Standard Variable Rate for the remaining term currently 8.49%

Repayment Basis

Interest Only for 1 Year then reverting to Capital and Interest


£299 non-refundable application £1,000 arrangement fee (deducted from loan on completion)

Valuation Fee: A valuation fee is payable on application and is non-refundable. The fee charged is dependent upon the price of the property

Minimum Interest Rate

The interest rate on this product will not drop below 2.00%.



Loan Size

Min. Loan: £30,000 - Max. Loan/LTV: £500,000@80%, £750,000@70%, £1,000,000@65%, £1,250,000@50% Loans over £500,000 will be considered on an individual basis

Maximum Loan to Value

Purchase 80%
Remortgage 80%


Overpayments of up to 10% of the mortgage balance are permitted during the first year and may be made by monthly standing order. Any additional overpayments above 10% during this period will attract a penalty calculated on the amount of the additional payments

What can a Light Refurbishment Mortgage be used for?

A light refurbishment mortgage can be used on a property that needs repairs or refurbishment. It can be arranged to cover these types of non-structural works: of one or more of the following.

• New kitchen;
• New bathroom;
• New flooring;
• Plastering;
• Painting and decoration;
• New windows or doors;
• Plumbing and rewiring;
• Damp proofing/insulation;
• Replacement heating system;
• Roofing works – including solar panels;
• Landscaping/drive/garden;

In summary, non-structural works. If the work needed to the property is more extensive and also requires planning permission, then a Self-build/Renovation product is required


This product is available for new mortgage customers only

Early Repayment Charges

if this mortgage is repaid in full or in part in the first year an early repayment charge will apply.

This will be 2% of the balance repaid during this period. Example – The maximum early repayment charge you could pay is £4,424.66 based on £221,233.00

Representative Example

A mortgage of £221,233 payable over 25 years initially on a discounted rate of 5.64% for the first year and then on our Standard Variable Rate (SVR) of 8.49% (variable) for the remaining 24 years would require 12 monthly payments of £1,377.12 and 288 monthly payments of £1,767.92.

The total amount payable would be £527,501.81 made up of the loan amount plus interest (£304,454.81), a Funds transfer fee of £35, a Valuation fee of £355 and a Mortgage Exit Fee of £125. a non-refundable £299 application fee and an arrangement fee of £1,000.

The overall cost for comparison is 8.3% APRC representative

Self-Build Guide

To found out more about Self-build mortgages, read our guide HERE.

Find out More or Apply

Call us on 01782 255000.

Lines are Open 9.00am to 5.00pm Monday to Friday.

Mortgage Enquiry

Call us on 01782 255000 or complete the form below and a member of our team will be in touch