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What are discounted variable rate mortgages?
These give you an interest rate that’s lower than our Standard Variable Rate. After this discount ends, you’ll get our normal Standard Variable Rate unless you choose a new deal.
How it works:
- Choose a discounted rate, a certain percent below our Standard Variable Rate
- Receive that discount for a set period - usually for 2, 3 or 5 years
- If our Standard Variable Rate goes up or down, your payment will too
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Mortgages are secured on your home. Applicants must be 18 or over. All loans are subject to status.
Got a question?
We set our own Standard Variable Rate, just like other lenders. If the Bank of England changes its base rate, ours might change too. So your discount won’t change, but monthly payments might go up or down.
You’ll pay less each month compared to a Standard Variable Rate. But early repayment charges still apply. And if you’d rather know exactly what your monthly payments will be, a fixed rate mortgage might be better.