Notices

  • With more prizes available in the Monthly Free Prize Draws - effective from 1 October 2024. Find out more here

    New Windfall Bond account holders: Newly opened accounts need to be fully funded and nominated bank details registered before the end of August in order to be eligible for entry into the October Prize Draw.

    Existing Windfall Bond account holders: Current Windfall Bond account(s) will automatically be entered into the October Prize Draw; until then the prize draws will continue as normal.

  • We have recently updated our 'How We Use Personal Information' leaflet – with improvements to the transparency of the document and a new section on fraud prevention agencies. The Credit Reference Agency Information Notice (CRAIN) has been removed from the leaflet and instead we provide details of the credit reference agencies’ websites to access this. You can view the latest Privacy notice here.

  • Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 September 2024. We will be writing to all customers individually to confirm the new rates.

    Mortgages: Tracker mortgages will change on 25 September 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 05/08)

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?

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

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.

Find out more