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arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
£1999
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
2.69% discount from our Standard Variable Rate until 31 December 2026
5.75%
followed by our SVR
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
8.44%
the overall cost for comparison is 8.2% APRC

Discounted until 31/12/2026 . Early Repayment Charges apply. . This product may be withdrawn at any time.

mortgage enquiries

Product key features

  • Product related fees
  • Product incentives
  • Mortgage amounts
  • Interest rate floor
  • Mortgage repayment terms
  • Early Repayment Charges
  • Mortgage tariff of charges
  • Representative example
Product related fees

There is an arrangement fee of £1,999. This fee can be taken off the mortgage amount, or you can add the fee to the amount you borrow. If you choose to add the arrangement fee to your mortgage you will pay interest on the fee at the same rate as your mortgage. If you choose to take the arrangement fee off the mortgage, this will be deducted from the amount you borrow and so, you will need to pay the arrangement fee to your solicitor at completion.

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

Product incentives

Free standard valuation: We will contribute up to £350 towards the cost of a valuation. To see our valuation fees, please click here.

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

Mortgage amounts

There is a minimum mortgage amount of £50,000.

This product has a maximum mortgage amount of £400,000.

We have a minimum property value of £100,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 95%.

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

Interest rate floor

The interest rate is floored, meaning if rates drop it cannot fall below 5.00%.

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

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 40 years. Maximum term will depend upon individual circumstances, for example applicant age and leasehold property restrictions.

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

Early Repayment Charges

Early Repayment Charges apply during the product term. You can overpay up to 10% of the original mortgage amount each calendar year without charge. However, if the overpayment exceeds 10%, the mortgage is repaid in full, or switched to another product before the end of the product term then the full amount of the Early Repayment Charge will apply.

The Early Repayment Charge will be calculated at:

  • 3% of the amount repaid until 31 December 2024; and
  • 2% of the amount repaid until 31 December 2026.

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

Mortgage tariff of charges

The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage. To view these, please click here.

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

Representative example

A mortgage of £183,000 payable over 30 years initially on a discounted variable rate until 31 December 2026, currently 5.75% (equal to a 2.69% discount from our SVR) and then our SVR, currently 8.44% for the remaining term would require an initial payment of £1,108.80 followed by 24 monthly payments of £1,079.60 and 335 monthly payments of £1,398.90.

The total amount payable would be £495,950.70 made up of the mortgage amount plus interest (£312,650.70) with an arrangement fee of £1,999, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 8.2% APRC representative.

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

Your discount mortgage toolbox

tools and guides
FAQs
  • What types of property do you lend on?

    We will lend on most properties built using standard construction methods and materials (brick or stone walls with a tiled or slated roof). We can also consider the following property types (subject to valuation):

    • Timber framed walls with brick cladding;
    • Thatched roof properties;
    • Grade 2 listed;
    • Prefabricated reinforced concrete (PRC) repaired properties that have the benefit of a 30 year insurance backed guarantee and structural warranty.

    However, we will not lend on flats and apartments in blocks above five storeys high and we will not lend on ex-local authority flats or maisonettes.

    If you're unsure whether your property type fits our criteria, please contact us and a Mortgage Adviser will be happy to help. Call 0121 557 2551, visit a branch or complete our online form.

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  • What documents do you need to apply for a mortgage?

    To complete a mortgage application you will need:

    • Most recent P60;
    • Latest two months, salary fed bank statements;
    • Latest two months pay slips;
    • Last two years’ SA302s or limited company accounts (if self-employed) along with last two tax year overviews;
    • Accountants details (if self-employed);
    • Acceptable proof of address and personal identification;
    • Home improvement quotations (if applying for additional borrowing or remortgaging with additional borrowing included);
    • Coal Authority Report (for properties with a coal mine);
    • Offer notice (if you are purchasing under the Right to Buy scheme);
    • Employers contact details;
    • Proof of deposit;
    • Rent statement and landlords contact details (if renting);
    • Solicitors contact details;
    • Estate agents contact details; and
    • Tenancy Agreements for any buy to let properties you have.
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  • What are your age limits?

    The minimum age for a mortgage applicant is 18 years. 

    If you are employed or self-employed, standard underwriting will apply where the mortgage term does not extend beyond the state pension date of the highest earning applicant.

    We can consider applications where the term will extend beyond the state pension date of the highest earner or where all applicants are already retired and in receipt of pension income however we will require additional criteria to be satisfied.

    For more detail you should speak with one of our Mortgage Advisers. Please call 0121 557 2551 or visit one of our branches to book an appointment or complete our online form.

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  • How much can I borrow?

    One of our Mortgage Advisers will assess your affordability during your appointment, however you can use our online affordability calculator to get an idea of what you may be able to borrow. To book an appointment please call us on 0121 557 2551, visit one of our branches or complete our contact us form.

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  • How much is a valuation fee?

    A standard valuation report is used to calculate how much we will lend you. This is separate from any valuation or survey of the property you might want to commission for your own use. There are other homebuyers or structural survey options available to you at additional cost.

    Some of our mortgages offer free valuations and the product pages will tell you if this is the case. Our mortgage valuation charges page will provide details of the costs incurred for both a standard valuation and the more detailed homebuyers report.

     

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We are here to help you...

  • Answer any questions
  • Book a mortgage appointment
  • Assess your options
  • Check affordability
mortgage enquiries
Laurence, our Mortgage Adviser is here to help 0121 557 2551*
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.
"I have always been provided with steady support and the Society helped me through some sensitive situations with comfort and help." Mrs Main
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"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them." Miss Savell-Boss
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Your home may be repossessed if you do not keep up repayments on your mortgage.