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)

6.04% Offset (2.25% discounted rate from follow on rate) for 2 years (XO0071)

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
6.04% Offset (2.25% discounted rate from follow on rate) for 2 years (XO0071)
6.04%	8.29%	8.0%APRC	Repayment	60%	£999~	£500 cashback for Remortgages and £100 cashback to open and fund linked Offset Saver account^

Key things to bear in mind

Purpose - Offset applications for Purchase and Remortgage
Options Available - Payment reduction or Balance reduction
Discount - 2.25% applied to our Managed Flexi Mortgage Rate for 2 years
Minimum Rate - 3.79%
Loan to Value - Maximum 60%
Application fee - £175 + Valuation Fee
Valuation Fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount
^~Product Fee - £999 for loans up to £500,000. For loans above £500,000, 0.3% of the loan amount
^Cashback - £500 for Remortgages and £100 to open and fund linked Offset Saver account
Early Repayment Charges - 2% in the first year, 1% in the second year
Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
Minimum Loan - £45,000 for Purchase and Remortgage
Cost for comparison - 8.0% 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.

Affordability calculator Email us Ask us to call back Summary & fees

Representative example

A mortgage of £180,000.00 payable over 10 years initially on a discounted variable rate for 2 years at 2.25% below our variable Managed Flexi Mortgage Rate and then on our variable Managed Flexi Mortgage Rate, currently 8.29% would require 23 monthly payments of £2,001.99 and 97 monthly payments of £2,170.70 plus one initial interest payment of £925.57.

The total amount payable would be £258,803.24 made up of the loan amount plus interest of £77,529.24, an Application Fee of £175, a Product Fee of £999 and a Mortgage Exit Fee of £100.

The overall cost for comparison is 8.0% APRC representative.

More downloads & what you'll need to apply

Identification

We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.

Bank statements

Three full months most recent consecutive bank statements for all current accounts, to evidence all income and outgoings. Bank statements must show the applicants name, account number, sort code and bank logo.

If you're renting your current home you'll need:

Last 12 months statements showing rent payments.

If you already have a mortgage you'll need:

Proof of mortgage payments - we carry out an electronic credit check on all applicants which usually confirms this. However if this fails, we will need proof. This can be provided from 12 months bank statements, the latest mortgage statements, or a combination. To speed up our underwriting, you can provide these on submission.

Proof of income

If you're employed in a company you'll need:

Three months' most recent payslips
Most recent P60.

If you have property or investment income you'll need:

Two years most recent SA302s.

If you're self employed you'll need:

Two years most recent accounts or two years most recent SA302s / Tax Calculations (100% Completed) or Family Building Society Accountant's Certificate
Accountant's details on the application form.

If you are already retired or if the term of your mortgage term goes beyond retirement or age 70 you'll need:

Most recent Pension Statement or letter from Department for Work and Pensions
Most recent annual Pension Statement
Most recent P60.

Other items

Evidence of deposit for purchases:

Evidence of deposit in an account held by the applicant(s)
For gifted deposits, we require evidence of the funds in a UK account and the giftors details (name, date of birth, relationship to applicants).

If you already let a property you'll need: