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Online Service update. Due to planned essential maintenance, our Online Service will be unavailable from 10pm on 8 May until 3am on 9 May. We apologise for any inconvenience this may cause.
- Savings customers. Your 2023/2024 Annual Interest Savings Summary has been despatched and will be with you shortly. Updated 29 April 2024
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Mortgage products - From Friday 3 May we have withdrawn all of our Owner Occupier and Buy to Let Fixed Rate mortgage products from sale for purchase, remortgage and further advance applications. If you are an existing borrower and your mortgage deal is ending and you would like to switch you can continue to have access to these products. Further information can be found here.
Can I get a mortgage for less than my rent?
Having been renting for years and saving a small deposit to buy your first home, can a mortgage cost less than renting?
It’s possible yes and would depend on your income affordability, outgoings and the term you want to repay the mortgage over.
You'll need a deposit of at least 5% of the property value and you’d need to go through a mortgage advice process to establish what type of products are available, the monthly mortgage payments and costs including valuation, legal fees and stamp duty.
Products are available specifically for first time buyers with small deposits and these sometimes include help with some of the costs involved and low fees. The interest rate on loans with smaller deposits will be higher than for other loans.
Family assistance
One way to reduce the cost is through mortgages that allow other family members to provide extra security, either through a charge over their own property or their savings. This can reduce the interest rate and by offsetting savings family members can also help reduce the monthly payment.
Find out how our innovative award-winning Family Mortgage can help buyers
with a low deposit to purchase a property, using security provided by their family.
First time & family assisted mortgages
We offer a range of traditional and innovative mortgages to help customers achieve their dream of getting onto the property ladder.