3.34% 2 year discounted rate Offset Mortgage - XO0019

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Rate Duration
Follow On
Repayment Interest
3.34% 2 years 5.79% 65% £175* £999** Yes Yes No
  • Discount - 2.45% discount applied to our Residential Investment Managed Mortgage Rate for the first 2 years
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
  • LTV - Maximum LTV 65%
  • Early Repayment Charges - 2% in the first year, 1% in the second year
  • Cost for comparison - 5.7% APRC
  • Minimum interest - 2.89%
  • Purpose - Purchase, remortgage, product switch and additional borrowing
  • *Application Fee - £175 + Valuation Fee
  • Valuation Fees - Based on the greater of the purchase price or value of the property. For more information see our valuation fee scale
  • **Product Fee - £999 for loans up to £500,000. 0.4% of the loan amount for loans above £500,000
  • Options available - Term Reduction (not available on interest only) and Payment Reduction
  • Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage
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Minimum Documents You'll Need From Your Client

All applicants

  • ID documents if the electronic check we carry out on the applicant fails
  • Applicants are required to have an existing UK mortgage. We carry out an electronic credit check on all applicants which may show the performance of these. If this fails to show their existing mortgage(s), 12 months proof of conduct is required. To speed up our underwriting, you can provide these on submission

Remortgage applicants

  • A copy of the existing / proposed tenancy agreement
  • Evidence of rent being paid in and mortgage being paid out (bank statements may already cover this)

Purchase applicants

  • Evidence of deposit in a UK account held by the applicant(s)
  • For gifted deposits, we require a signed gifted letter from the giftor plus evidence of funds in a UK account

Applicants with four or more mortgaged Buy to Let properties

  • We will treat these applications as a portfolio landlord and we require details of their full portfolio and a business plan. Download the assets and liabilities form and the business plan checklist here.
Fees for this product

Standard fees

  • Application Fee - £175 for purchase and remortgage + Valuation Fee. £125 for additional borrowing. No fee for product switch
  • Valuation Fee - Based on the greater of the purchase price or value of the property. For more information see our valuation fee scale
  • **Product Fee - £999 for loans up to £500,000. For loans above £500,000 0.4% of loan amount. No fee for additional borrowing or product switch

Procuration fees (gross fee paid)
Directly authorised brokers submitting business to us directly - 0.50%, min £225.00
Submitting a case via Mortgage Clubs - 0.52%, min £234.00 (Mortgage Clubs will deduct 0.02%)
For additional borrowing and product switch fees and further fee information click here

Criteria checker

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Affordability Calculator

Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator