Variable rate mortgages

Start your mortgage with
low repayments

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

MortgageInitial interest rateFollow on rateOverall cost for comparisonMax loanOther information
Business Customers: 3 Year Stepped Tracker Rate
Year 1:
5.44% variable
until 30/06/2009
tracks BoE Base Rate +0.44%

Year 2:
6.44% variable
until 30/06/2010
tracks BoE Base Rate +1.44%

Year 3:
7.54% variable
until 30/06/2011
tracks BoE Base Rate +2.54%

7.19% variable7.3% APR75% property value
  • Overpay 10% without incurring an early repayment charge
  • From 3 months after completion until the end of our tracker period, you can switch to a fixed rate and pay no early repayment charge - just the product fee
  • Product Fee £799
  • Available exclusively to Business Banking customers - house purchase and remortgage
  • Minimum loan £25,000

Private / Business and Royalties Gold: 2 Year Purchase Tracker Rate
6.19% variable
until 30/06/2010
tracks BoE Base Rate +1.19%		7.19% variable7.4% APR90% property value
  • Overpayments allowed
  • Early repayment charge of 3% applies until 30/06/2010
  • £999 product fee
  • Minimum loan £25,000

Royalties Private / Business Banking: 2 Year Purchase Tracker Rate
6.19% variable
until 30/06/2010
tracks BoE Base Rate +1.19%		7.19% variable7.4% APR90% property value
  • Overpayments allowed
  • £999 product fee
  • Minimum loan £25,000
  • No early repayment charge

2 Year Purchase Tracker Rate
6.24% variable
until 30/06/2010
tracks BoE Base Rate +1.24%		7.19% variable7.4% APR90% property value
  • Overpay 10% per year without incurring an early repayment charge
  • From 3 months after completion until the end of our tracker period, you can switch to a fixed rate and pay no early repayment charge - just the product fee
  • £999 product fee
  • Minimum loan £25,000
  • Early repayment charge of 3% applies until 30/06/2010

Private / Business and Royalties Gold: 2 Year Remortgage Tracker Rate
6.29% variable
until 30/06/2010
tracks BoE Base Rate +1.29%		7.19% variable7.3% APR90% property value
  • Remortgage package included - we'll pay all our standard legal and valuation costs for you
  • Overpayments allowed
  • Early repayment charge of 3% applies until 30/06/2010
  • £999 product fee
  • Minimum loan £25,000

Royalties Private / Business Banking: 2 Year Remortgage Tracker Rate
6.29% variable
until 30/06/2010
tracks BoE Base Rate +1.29%		7.19% variable7.3% APR90% property value
  • Remortgage package included - we'll pay all our standard legal and valuation costs for you
  • Overpayments allowed
  • £999 product fee
  • Minimum loan £25,000
  • No early repayment charge

2 Year Remortgage Tracker Rate
6.34% variable
until 30/06/2010
tracks BoE Base Rate +1.34%		7.19% variable7.4% APR90% property value
  • Remortgage package included - we'll pay all our standard legal and valuation costs for you
  • Overpay 10% per year without incurring an early repayment charge
  • From 3 months after completion until the end of our tracker period, you can switch to a fixed rate and pay no early repayment charge - just the product fee
  • £999 product fee
  • Minimum loan £25,000
  • Early repayment charge of 3% applies until 30/06/2010

Flexible Choice
6.44% variable
N/A6.7% APR95% property value
  • Borrow from £25,000

Standard Variable Rate, no arrangement fee
7.19% variable
N/A7.5% APR95% property value
  • Borrow from £10,000
  • No product fee and no early repayment charge
  • A Higher Lending Charge applies on loans above 90% LTV


Choose a variable rate tracker mortgage, and your interest rate will be set just above the Bank of England Base Rate for the agreed period. If the Bank of England Base Rate rises, your monthly repayments will increase too - leaving you with less money each month.

However, if the Bank of England Base Rate goes down, so will your monthly repayments. And that means you could enjoy having spare funds.

Higher Lending Charge

A Higher Lending Charge will apply to all loans above 90%.

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