Mortgage features

We offer the following features on our mortgage range, designed with your clients in mind.

For everything you need to know around overpayments, visit our payments page.

Fixed rate mortgages can help your clients who like the security of knowing what their monthly repayments will be.

• With a fixed rate mortgage the interest rate will stay the same for the duration of the fixed rate period
• This means that the rate will not change whether the Bank of England Base Rate goes up or down

All our fixed rate mortgages are true term products.

• This means that if your client's completion date is delayed, their mortgage will still run the full deal period
• So, if your client is taking out a 2 year fixed product and completes on 7 August 2025, they'll make 24 monthly payments and revert to our Standard Mortgage Rate on 1 September 2027

NB: At the end of the fixed rate period your client will automatically move to our Standard Mortgage Rate (SMR).

The rate your client pays is directly linked to movements in the Bank of England Base Rate (BBR). Each time the BBR changes, your client's rate will change in time for their next payment (within one month).

All our tracker rate mortgages are true term products.

• This means that if your client's completion date is delayed, their mortgage will still run the full deal period
• So, if your client is taking out a 2 year tracker and completes on 7 August 2025, they will make 24 monthly payments and revert to our Standard Mortgage Rate on 1 September 2027

There are no ERCs on our tracker mortgages meaning your client has even greater flexibility.

Tracker floor

If the BBR rate is 0% or less during the tracker period, the rate your client will pay will be 0% plus the agreed set percentage above the BBR. This means the rate your client pays will never go below 0% plus the additional rate of their tracker mortgage.

NB: At the end of the tracker rate period your client will automatically move to our Standard Mortgage Rate (SMR).

Daily interest is calculated as standard on all our mortgages.

So, each time your client pays off part of their mortgage, whether it's a regular payment or an overpayment, the interest is recalculated the next working day.

This means your client only pays interest on what they owe. It's the fairest way of charging interest and this reduces your client's mortgage balance without the need to wait for the end of the month or even year (terms and conditions apply).

If your client builds up an overpayment reserve they have the flexibility to reduce their future monthly payments for an agreed period.

Interest will not be charged on any balance increase arising from underpayments until the next capitalisation of the account, annually on 31 December.

Underpayments can only be agreed up to the limit of the overpayment reserve. Borrowers must establish the amount of overpayment reserve on their account and agree a period of underpayment before commencing underpayments.

When underpayments are being agreed it must be determined what payment method is being used and an appropriate adjustment made.

Underpayments are not subject to affordability or eligibility checks (terms and conditions apply).

More information for your client, including how to apply, is available on our customer website (opens in a new window).