Our
Rates

A fixed rate mortgage has an interest rate that stays the same for a set period of time, called an initial period (ours are 2, 3, or 5 years). It means your monthly payments will stay the same for that period. When that initial period ends, if you wanted to fix your rate again, you could remortgage to a new fixed rate.
After your initial period ends, you can remortgage (subject to affordability and criteria). If you don’t remortgage, you’ll go onto a standard variable rate (SVR)

An initial rate is the rate you’ll have for the initial period of your mortgage (ours are 2, 3, or 5 years). For fixed rate mortgages, it means your rate and monthly payments will stay the same for that period. After that, you can remortgage to a new product, and a new initial rate. If you don’t remortgage, you’ll be carried on to something called a standard variable rate (SVR), which can go up or down.

APRC stands for “annual percentage rate of change,” and it calculates how much you’d pay in interest every year on average if you were to go onto a standard variable rate (SVR) after your initial period, and stay on the SVR until your mortgage is fully repaid. (It averages out your initial rate for the initial period, all fees and charges, plus the SVR for the rest of your mortgage.) But most people choose to remortgage to a new deal after their initial period is up, which APRC doesn’t measure.

Some of our mortgages have a lower interest rate, in exchange for an up-front fee. We also have mortgages that have no up-front fee, with a higher interest rate.