Notices

Savings customers - the interest rates on many of our variable rate savings products will be decreasing from 6 January 2025. Find out more

We will be emailing or writing to you shortly to let you know of how these decreases affect you. In the meantime, you can see all of these changes here.
Mortgage customers - our Managed Mortgage Rate (MMR) will decrease by 0.25% from 20 January 2025. Find out more:

From 20 January 2025, we'll be decreasing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates.
We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them.
View our Christmas opening hours here. For information on bank transfer processing times over the Christmas period please click here.
Rate changes following Bank of England decision to decrease its Bank Rate by 0.25% to 4.75% on 7 November 2024. Find out more

Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 December 2024. We will be writing to all customers individually to confirm the new rates.
Mortgages: Tracker mortgages will change on 25 December 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.
(Notice updated 08/11)

6.49% Offset (2.45% discounted rate from follow on rate) for 2 years (XO0076)

The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Initial interest rate	Current follow on rate	Overall cost for comparison	Repayment or Interest-Only?	Max % Loan to Value (LTV)	Product fees	Additional benefits
6.49% Offset (2.45% discounted rate from follow on rate) for 2 years (XO0076)
6.49%	8.94%	8.8%APRC	Interest-Only Repayment	70%	£0~

Key things to bear in mind

Purpose - Offset applications for Product Switch and Further Advance
Options Available - Payment reduction or Balance reduction. Balance reduction only available for repayment mortgages.
Discount - 2.45% applied to our Residential Investment Managed Mortgage Rate for 2 years
Minimum Rate - 4.24%
Loan to Value - 70%
Application fee - £125 for Further Advance. £0 for Product Switches
Legal fees - £100 minimum for Further Advance applications
Valuation Fees - £0
^~Product Fee - £0 for Further Advance and Product Switch
Early Repayment Charges - 2% in the first year, 1% in the second year
Maximum loan - No maximum
Minimum Loan - £2,000 for Further Advance. No minimum for product switches
Cost for comparison - 8.8% 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.

Buy to Let calculator Email us Ask us to call back Summary & fees

More downloads & what you'll need to apply

Identification

Only applicable for Further Advance applications - We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.

Bank statements

Only applicable for Further Advance applications - Buy to Let applicants are normally required to have an existing UK mortgage. We carry out an electronic credit check on all applicants which may show the performance of these. If this fails to show their existing mortgage(s), 12 months proof of conduct is required. To speed up our underwriting, you can provide this on submission.