Green – 2 Year Discount 5.05% variable (2.49% off Homeowner Variable Rate)
GOD11 With effect from 04 December 2024
Initial Interest Rate
2.49% discount off the Society's Homeowner Variable Rate for 2 years. Will not go below a floor of 2.25%.
5.05%
variable
Max Loan to Value (LTV)
Maximum loan to value available:
80%
Product Fees
Application fee
Free
Completion fee
Free
Free
Overall Cost for Comparison
The overall cost for comparison
7.1% APRC representative
Monthly repayments calculator
Whether you’re looking for residential or buy-to-let products, use our helpful calculators to pre-determine the likely status of your application.
Fee information
Application fee
Free
Completion fee
Free
Valuation fee
Free where the price or value of the property is £1million or less.
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
Free
Representative Example
A Mortgage of
A mortgage of £40,000
Payable term
Payable over 18 years
Initial rate and term
Initially on a discounted variable rate for 2 years of 5.05%
Followed by
Our Homeowner Variable Rate of 7.54% for the remaining 16 years
Monthly payments
24 payments of £282.29 followed by 192 payments of £333.47
Total amount payable
The total amount payable would be £70,801.20 made up of the loan amount plus interest (£30,801.20)
Arrangement fee
Free
Mortgage exit administration fee
Free
Valuation fee
Free
Cost for comparison
7.1% APRC representative
Standard Features
- Available on properties in England and Wales
- Minimum Loan Amount £20,000, Maximum Loan £100,000
- Interest Only Mortgages are available up to a maximum of 70% LTV provided a suitable repayment strategy such as equity within a second property owned by the applicants. Alternatively the 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 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
- Available for Additional Borrowing for existing members only
Scroll down to start your application 
Applying for an account
Speak to one of our advisors 
Form test
Our team are here to help you through every step of your mortgage application process. We know it may seem daunting, especially if this is your first time, but pick up the phone and speak to one of our advisors and they’ll lay out the process step-by-step.
New to Hinckley & Rugby? Let us help
Get the help you need, from creating an account, deposits, withdrawals.