2.39% 3 year discounted rate by 2.40% - XD0115

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Rate Duration
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Cashback on
Repayment Interest
2.39% 3 years 4.79% 60% £175* £599~ £500^ No Yes Yes
  • Purpose - Purchase, remortgage, product switch and further advance
  • Discount - 2.40% discount applied to our Managed Mortgage Rate for the first 3 years
  • Minimum rate - 2.39%
  • LTV - Maximum 60%.
  • *Application Fee - £175 + Valuation Fee for purchase and remortgage. (£125 for further advance, £0 for product switch)
  • Valuation Fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount
  • ~Product Fee - £599 for loans up to £500,000. For loans above £500,000 0.3% of the loan amount. (£0 for further advance, £0 for product switch)
  • ^Cashback - £500 for remortgage applications
  • Early Repayment Charges - 3% in the first year, 2% in the second year, 1% in the third year
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
  • Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches.
  • Cost for comparison - 4.3% APRC
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Minimum Documents You'll Need From Your Client

All applicants

  • ID documents if the electronic check we carry out on all our applicants fails
  • Three full months most recent consecutive bank statements for all current accounts, to evidence all income and outgoings
  • Bank statements must show the applicant's name, account number, sort code & bank logo

Property or investment income applicant

  • Two years most recent SA302s

Employed applicant

  • Three months most recent payslips
  • Most recent P60

Self employed applicant

  • Two years most recent accounts or two years most recent SA302s / Tax Calculations (100% Completed) or FBS Accountants Certificate
  • Accountant’s details on the application form

Applicant is already retired or if the term goes beyond retirement or age 70

  • Most recent Pension Statement or letter from Department for Work and Pensions
  • Most recent annual Pension Statement
  • Most recent P60

Applicant renting current home

  • 12 months bank statements showing rent payments

Applicant already has a mortgage

  • We require proof of mortgage payments. We carry out an electronic credit check on all applicants which usually confirms this. However if this fails, we will need proof. This can be provided from 12 months bank statements, the latest mortgage statements, or a combination. To speed up our underwriting, you can provide these on submission

Applicant has background BTL(s)

  • Evidence of rent being paid in and mortgage being paid out (bank statements requested above may already cover this)

Applicants with purchase deposits

  • Evidence of deposit in an account held by the applicant(s)
  • For gifted deposits, we require evidence of the funds in a UK account and the giftors details (name, date of birth, relationship to applicants)
Fees for this product

Purchase and remortgage fees
· *Application Fee 
- £175 + Valuation Fee (£125 for further advance, £0 for switch)
·~Valuation Fee - Free for properties up to £500,000. For properties over £500,000 the standard valuation fee scale applies, less £330 discount
·~Product Fee - £599 for loans up to £500,000. For loans above £500,000 0.3% of loan amount.

Procuration fees for purchase and remortgage applications (gross fee paid)

· Directly authorised brokers submitting business to us directly
- 0.40%, min £180.00
· Submitting a case via Mortgage Clubs 
- 0.42%, min £189.00 (Mortgage Clubs will deduct 0.02%)

Further advance fees
· *Application Fee - £125
· Valuation Fee - £0
· Product Fee - £0
· Legal Fees - £100 + disbursements

Product switch fees
No fees apply to switch to a new product with us on the same terms.

Procuration fees for product switches (gross fee paid)

· Directly authorised brokers submitting business to us directly - 0.20%, no min
· Submitting a case via Mortgage Clubs - 0.22%, no min (Mortgage Clubs will deduct 0.02%)

For  further fee information click here

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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