6.39% Offset Mortgage 2.15% Discounted Rate from follow on rate for 2 years (XO0072) - XO0072
Our Offset mortgage is aimed at people wanting to make better use of their savings whilst keeping their money available for other purposes. It is available for property purchase or remortgage and can also be used by the self-employed and first time buyers and other borrowers whose family members wish to help them reduce the cost of owning their home.
Initial Rate |
Initial Rate Duration |
Follow On Rate |
Max. LTV |
Application Fee |
Product Fee |
Cashback on Completion |
Repayment | Interest Only |
FTB |
---|---|---|---|---|---|---|---|---|---|
6.39% | 2 years | 8.54% | 80% | £175* | £999~ | £500^ | Yes | No | No |
- Purpose - Offset applications for purchase, remortgage, product switch and further advance
- Options available - Term reduction or payment reduction
- Discount - 2.15% applied to our Managed Flexi Mortgage Rate for 2 years
- Minimum rate - 3.89%
- LTV - Maximum 80%
- *Application Fee - £175 + Valuation Fee for purchase and remortgage. (£125 for further advance. £0 for product switch)
- Valuation Fee - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount. (£0 for further advance, £0 for product switch)
- ~Product Fee - £999 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 towards legal costs, and £100 for remortgage and purchase applications added to Offset Saver
- Early Repayment Charges - 2% in the first year, 1% in the second 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 - 8.2% APRC
- Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage. On completion of the mortgage, a cashback amount will be used to open your linked Offset Saver account: £100 for remortgages and purchases
- Additional features - Overpayments and partial capital repayments allowed. Overpayments build up a credit position to be used for future underpayments, payment holidays and borrow back - allowed to the remaining value of previous overpayments with our prior agreement. 100% of the loan amount can be offset
Criteria checker
Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.
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