First Time Buyer 2 Year Tracker Rate Mortgage
RATES CORRECT AS AT 05 February 2026
Initial variable rate is BoE base rate (currently 3.75%) + 0.35%
4.10%
Fixed up to and inc. 31/05/2028
Then changing to the Society's SVR, (currently)
7.74%
For the remaining term of the mortgage
The overall cost for comparison is
7.3%
APRC
Maximum loan to value
75%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £190,000.00 payable over 25 years on a tracker rate for 2 years at 0.35% above the Bank of England base rate and then on our current Standard Variable Rate of 7.74% for the remaining 23 years would require 24 monthly payments of £1012.45 and 276 monthly payments of £1403.59.
The total amount payable would be £412,723.64 made up of the loan amount plus interest of £221,689.64 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.
The overall cost for comparison is 7.3% 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.
This example has been calculated on a Capital & Interest repayment method. The monthly payments, total amount payable and interest charged all reflect this calculation method.
Additional features
- During the fixed term, the interest rate won't go under 0.50%, even if the Bank of England base rate drops below this. This is sometimes referred to as an interest rate 'floor'.
- Interest calculated daily.
- Free standard valuation up to £999.
- This product is not available to interest only applications.
- Unlimited capital repayments are allowed.
- No Early Repayment Charges apply.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£999
Mortgage Exit Fee
£199
