Home – 2 Year Discount 4.80% variable (2.09% off Homeowner Variable Rate) (CO2YRD80)

2 Year Discount 4.80% variable (2.09% off Homeowner Variable Rate)

HVD25 With effect from 01 October 2025

Initial Interest Rate

4.80% variable

Max Loan to Value (LTV)

80%

Product Fees

£800 (non-refundable)

Overall Cost for Comparison

6.7% APRC representative

Fee information

Application fee

Free

Completion fee

£800 (non-refundable)

This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.

Valuation fee

Please see the table at the link for details of the applicable fee.

Fees reference table

Early repayment charge

During year 1: 2% of the amount repaid early plus fees During year 2: 1% of the amount repaid early plus fees

This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable if you repay any amount in excess of 10% of the mortgage balance in any one year.

Overpayments

Overpayments of up to 10% per year may be made without incurring the early repayment charge.

Mortgage exit admin fee

£125 (non-refundable)

Representative Example

A Mortgage of

A mortgage of £233,800 (a loan of £233,000 plus a completion fee of £800 added to the loan)

Payable term

Payable over 29 years

Initial rate and term

Initially on a discounted variable rate for 2 years of 4.80%

Followed by

Our Homeowner Variable Rate of 6.89% for the remaining 27 years

Monthly payments

24 payments of £1,245.72 followed by 324 payments of £1,538.25

Total amount payable

The total amount payable would be £528,955.28 made up of the loan amount plus interest (£294,490.28) plus the fees below

Arrangement fee

Free

Mortgage exit administration fee

£125 (non-refundable)

Valuation fee

£290

Cost for comparison

6.7% APRC representative

Standard Features

Available on properties in England, Scotland and Wales
Available for house purchase or remortgages
Additional borrowing is available for existing mortgages
Interest-Only Mortgages are available up to a maximum of 70% LTV, provided there is a suitable repayment strategy in place—such as equity in a second property owned by the applicants, a pension lump sum, funds held in an ISA, etc. Alternatively, the sale of the applicant's primary residence may be considered as a repayment strategy, in which case the maximum LTV is 60%.
Sale of applicants’ residential security will be considered in the specific circumstance of the LTV being 60% or lower and subject to a review of the credibility of downsizing in the local area
Minimum loan £100,000 (existing members £50,000)
Minimum term 5 years
Normal maximum term 40 years, depending on age limits
Interest calculated on a daily basis
Applications accepted for advances on private dwelling houses of various types providing they are of Standard Construction
No tied insurances
Minimum age for applicants 18
Portable up to the existing mortgage balance
Tariff of charges during the life of any mortgage available on request
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
Cashback – £250 cashback paid to your nominated bank account within one month of the completion of your mortgage