Discounted-rate mortgage

A discounted-rate deal is one where the interest rate you are charged is a set amount less than our standard variable rate (SVR). For example, if our SVR was 5.5% and the discount is 1%, you would pay 4.5%. This is a variable rate and should the SVR increase or decrease, the rate you pay […]


This is the amount you are required to put down yourself towards the cost of the property. The minimum deposit you will usually need to obtain a mortgage with the Society is 10% of the purchase price / property value.

Daily Interest

The interest chargeable on the outstanding mortgage balance is calculated every day rather than at the end of each week, month or year.