Variable Discount for 2 Years (Arrears)

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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.

Variable Discount for 2 Years (Arrears)

Initial Pay Rate


Loan to Value






Product Code



Early Replayment Charge: Yes

Incentives: No

Things you need to know

Initial Pay Rate

6.49% Initial Pay Rate for 2 years which represents a 2.00% discount off our Standard Variable Rate (SVR) currently (8.49%).

Repayment Basis

Low Start – Interest Only for the first two years reverting to Capital & Interest for the remaining term.


There are no application or arrangement fees.
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

Minimum Loan £30,000.
Maximum Loan £1,250,000 up to 50% LTV £1,000,000 up to 60% LTV, £500,000 up to 80% LTV. (Loans above £500,000 will be considered on an individual basis).

Maximum Loan to Value

House Purchase – 80% (Land/Construction or Renovation End Valuation).
Remortgage – 80% (Land/Construction or Renovation End Valuation).


Overpayments of up to 10% of the mortgage balance are permitted each anniversary year for the first 2 years 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.


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 2 years 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 £221,233.00 payable over 25 years initially on a discounted rate of 6.49% for the first 2 years and then on our Standard Variable Rate (SVR) of 8.49% (variable) for the remaining 23 years would require 24 monthly payments of £1,492.40 and 276 monthly payments of £1,763.71.

The total amount payable would be £523,115.82 made up of the loan
amount plus interest (£301,367.82), a Funds transfer fee of £35, a Valuation fee of £355 and a Mortgage Exit Fee of £125.

The overall cost for comparison is 8.2% 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.