An account which pays interest on your savings once a year, this is usually at the Society’s year end on 31 December.

This shows what the interest rate would be if interest was paid and compounded once each year. This allows you to compare products more easily.

An additional ISA allowance that is available to the surviving spouse or civil partner of an ISA holder, this is available on top of your normal annual ISA allowance.

If you go into arrears, it means you have ‘defaulted’ at least once on your mortgage repayments, i.e. you have missed a month’s payment. Contact us as soon as possible if you think you may go into arrears. If you are applying for a mortgage and have been in arrears previously, it is important that […]

APRC stands for the Annual Percentage Rate of Charge used to compare loan offers.

Annual percentage rate: the overall cost of a mortgage, including the interest and fees. It assumes you will have the mortgage for the whole term.

Some products may have an associated application fee. This application fee is charged in order to cover the costs associated with the processing of the application.

It is always recommended that you speak with us before you begin to look for a property, so that you can establish how much you can borrow. You can use this confirmation to prove to a seller that you can afford to buy their property.

The fee charged for the administration involved in arranging the loan.

The term used when a customer increases their borrowing to release some of the equity available in their property.