Mortgages Explained

Choosing the best mortgage rate for you

Finding the best mortgage rate can be difficult but we can give you a quote that's tailored to you and your lifestyle. We offer many different types of mortgages. So, whether you are a first time buyer or you're higher up the property ladder, we can provide a flexible range of mortgages designed just for you.

Variable rate mortgage
If we change our Standard Variable Rate then the rate you pay will alter accordingly. If the rate rises then your payment will increase, however if the rate decreases you will benefit from a reduction in your monthly payment.
Discount Rate mortgage
Some of our mortgages come with an initial discounted period. You can make the most of the lower rate and spend your extra money on your new home. These can often be useful to first time buyers who may have less to spend on moving in.
Base rate tracker mortgage
Your mortgage rate will reflect the Bank of England base rate. If the rate increases then your payment will increase, however if the Base Rate falls you will benefit from a reduction in your monthly payment.
Fixed rate mortgage
We can give you a fixed rate mortgage quote that allows you to pay a set amount each month for a specific period. The advantage is that you know exactly how much you will have to pay each month so you can budget more easily.
Offset mortgage
This allows you to offset your savings against the value of your mortgage balance. This offsetting could save you thousands of pounds and reduce the term of your mortgage.
Guarantor mortgage
The guarantor mortgage could be the best mortgage rate if you're a young professional or a first time buyer. This mortgage option allows one of your close relatives, usually a parent, to provide a guarantee for the loan. This option may mean you can borrow more funds than your income would normally allow, providing you could cover the repayments on your current income. Guarantors will need to seek independent financial advise in all cases.
Remortgages
A remortgage is an excellent way to raise money from your home for a whole range of purposes. You could use it for a holiday, a car or home improvements. If your home has increased in value and the mortgage is significantly less than the value of your home, a remortgage might be a good way to release some extra cash with low repayments.
Repayment mortgage
This involves paying back the interest on the amount borrowed from us as well as paying off the capital borrowed. At the end of the mortgage term you will know that you have repaid all the interest and the capital, so you will own your home outright.
Interest only mortgage
By selecting an interest only mortgage, you will only pay interest on a monthly basis and not reduce the capital balance of the loan. You are responsible for ensuring that you will be able to pay off the capital borrowed at the end of the mortgage term. We only accept applications on a repayment basis only. Loans on an interest only or part interest only basis do not meet our lending criteria.
Self-build mortgage
A self-build mortgage allows you to borrow money in a number of pre-agreed stages as your property is built, so you get the best mortgage rate for your project by borrowing in stages. The simple process requires you to provide details of your proposed project, together with the costs involved.

PLEASE NOTE: THE INFORMATION CONTAINED ON THIS WEBSITE DOES NOT CONTAIN ALL OF THE DETAILS THAT YOU NEED TO CHOOSE A MORTGAGE. MAKE SURE THAT YOU READ SEPARATE KEY FACTS ILLUSTRATION BEFORE YOU PROCEED.

All properties must have a minimum purchase price and / or valuation (whichever is lower) of £40,000. Full written quotations available on request.

Mortgages are only available in respect of real properties (residential properties) located in England, Wales and Scotland and Northern Ireland. All mortgages subject to status and valuation and are not available to persons under 18 years of age.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage Help & Next Steps

  • Talk to our mortgage advisors
    0345 606 4488(local rate charge but calls from mobiles may cost more)
  • Or pop into your local branch
    FIND YOUR BRANCH
 
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