Please note:

Second Home Mortgages

Our second home mortgages are designed for customers looking to buy a second residential property which is not to be let out, which could include a holiday home for personal use, workplace residence or for a family member, for example children or elderly relatives. We’ve designed a specific range of products to meet your clients’ needs in a number of ways:

  • Customers looking to borrow up to 70% LTV can borrow the whole mortgage on an interest only basis.
  • A Part & Part approach is available for customers wanting to borrow up to 75% LTV.
  • Customers with smaller deposits could be able to borrow up to 85% LTV on a repayment basis.

Please see below for full product details.

 

Legal Assisted 2 Year Second Home Mortgages

Initial rate fixed up to and inc. 31/12/23Then changing to the Society's SVR less a discount of 1.25%, up to and inc. 31/12/2026, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Arrangement Fee
1.99% 4.04%5.29%4.6%65%£999 View
Max loan amount £1,250,000
2.19% 4.04%5.29%4.6%75%£999 View
Max loan amount £1,000,000
2.34% 4.04%5.29%4.6%85%£999 View
Max loan amount £500,000
RATES CORRECT AS AT 20 august 2021

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £105,000.00 payable over 25 years initially on a fixed rate for 2 years at 2.34% and then a 1.25% discount on our current Standard Variable Rate of 5.29% giving a rate of 4.04% for 3 years and then on our current Standard Variable Rate of 5.29% for the remaining 20 years would require 24 monthly payments of £462.31, 36 monthly payments of £548.98 and 240 monthly payments of £610.28.

The total amount payable would be £178,359.69 made up of the loan amount plus interest of £72,325.69 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 4.6% 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

  • 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.
  • When you're applying for an interest only mortgage, please be aware that you'll need to have a credible repayment strategy in place to pay off the loan and any interest accrued under the mortgage at the end of the term.
  • 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.

Legal Assisted 5 Year Second Home Mortgages

Initial rate fixed up to and inc. 31/12/26Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Arrangement Fee
2.69% 5.29%4.3%65%£0 View
Max loan amount £1,250,000
2.79% 5.29%4.3%75%£0 View
Max loan amount £1,000,000
2.84% 5.29%4.4%85%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 20 august 2021

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £105,000.00 payable over 25 years initially on a fixed rate for 5 years at 2.84% and then on our current Standard Variable Rate of 5.29% (variable) for the remaining 20 years would require 60 monthly payments of £488.84 and 240 monthly payments of £604.41.

The total amount payable would be £174,423.51 made up of the loan amount plus interest of £69,388.51 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 4.4% 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

  • 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.
  • When you're applying for an interest only mortgage, please be aware that you'll need to have a credible repayment strategy in place to pay off the loan and any interest accrued under the mortgage at the end of the term.
  • 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.

 

We have developed a set of short, easy-to-use guides to our criteria.

View our criteria guides »

Any questions?

Please contact your nearest Development Manager. Find your nearest Development Manager »