Please note:

First Homes Mortgages

Our First Home mortgage products are designed for properties purchased through the government's First Home scheme at a discount of between 30% and 50% of their open market value. These products are available for clients who meet the scheme’s eligibility criteria, are First Time Buyers with a combined annual income of no more than £80,000 (£90,000 in Greater London) and where the price of the home after the discount is applied is no more than £250,000 (£420,000 in Greater London). A First Home should be the buyer’s only home, with their local authority determining eligibility.

 

First Homes 2 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/07/24Then changing to the Society's SVR less a discount of 1.25%, up to and inc. 31/07/2027, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.51% 4.29%5.54%4.7%75%£0 View
Max loan amount £2,000,000
RATES CORRECT AS AT 25 march 2022

Representative Example

A mortgage of £172,000.00 payable over 25 years initially on a fixed rate for 2 years at 2.51% and then a 1.25% discount on our current Standard Variable Rate of 5.54% giving a rate of 4.29% for 3 years and then on our current Standard Variable Rate of 5.54% for the remaining 20 years would require 24 monthly payments of £771.93, 36 monthly payments of £922.61 and 240 monthly payments of £1024.60.

The total amount payable would be £297,679.00 made up of the loan amount plus interest of £125,644.00 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 4.7% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Key details about this product range

  • Please note we’ll lend to 95% of the discounted purchase price.
  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.

First Homes 5 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/07/27Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.44% 5.54%4.2%75%£799 View
Max loan amount £2,000,000
2.58% 5.54%4.2%75%£0 View
Max loan amount £2,000,000
RATES CORRECT AS AT 25 march 2022

Representative Example

A mortgage of £180,000.00 payable over 25 years initially on a fixed rate for 5 years at 2.44% and then on our current Standard Variable Rate of 5.54% (variable) for the remaining 20 years would require 60 monthly payments of £801.51 and 240 monthly payments of £1049.19.

The total amount payable would be £300,730.98 made up of the loan amount plus interest of £119,896.98 and application fee £0, product fee £799, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 4.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Key details about this product range

  • Please note we’ll lend to 95% of the discounted purchase price.
  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.