Owner Occupied/ Residential - discount rate mortgages

Discount mortgages for purchase or re-mortgage.

Discount rate mortgages can change their mortgage interest rates at any time, subject to the terms and conditions of the mortgage.

The rate of interest paid on these mortgages will change according to our Standard Variable Rate.

For joint applications, both applicants must be current or previous home owners. If one applicant is a first time buyer, the case must be place on one of our First Time Buyer products.

If one applicant is self-employed with 1 year accounts, the case must be placed on our Self Employed range. If they have been trading for more than 2 years, please place the case on one of our Owner Occupier or First Time Buyer products as applicable.

Product Criteria 

Same as current (except we have removed the application fee)

• Free Valuation Fees
• Minimum age 21
• Interest only or repayment
• Interest only to 70% max LTV and subject to an acceptable repayment strategy
• Minimum loan size £100,000
• Maximum loan size £3,000,000. Loans over this are supported by our Large Loan products 

Overpayments of up to 10% of the original loan amount per annum are allowed without penalty

Product Criteria 80% LTV Large Loan

• Minimum age 21
• Interest only or repayment
• Interest only to 70% max LTV and subject to an acceptable repayment strategy
• Minimum loan size £3,000,000
• Maximum loan size £5,000,000
• Loans over this are priced on a bespoke basis and have restricted LTVs

Second Home Criteria 

• Free Valuation Fees
• Minimum age 21
• For second homes
• Affordability is solely based on personal income and no income from short term letting is used
• Maximum 90 days per year of short term letting
• No AST or contract for tenant
• Not available to properties on holiday parks or subject to occupancy restrictions
• Interest only or repayment
• Interest only to 70% max LTV and subject to an acceptable repayment strategy
• Minimum loan size £100,000
• Maximum loan size £3,000,000
• Loans over this are priced on a bespoke basis and have restricted LTVs

* Overpayments of up to 10% of the original loan amount per annum are allowed
without penalty