Extended Tie In Period

Some lenders stipulate that the borrower keep their mortgage with that lender for a period of time after the agreed, discount or fixed rate period has ended. If the borrower moves their mortgage elsewhere during the tie in period, they may have to pay an early repayment charge. The Society does not apply extended tie […]

Exit Fee

This is a closure administration fee payable to the Society when you fully repay your mortgage. Our current mortgage exit fee can be located within our Tariff of Charges.


The amount of the property that you own outright, i.e. your deposit plus any capital you’ve paid off on your mortgage in addition to any increase in value in the property.

Endowment mortgage

A form of interest-only mortgage where you also pay money into a type of investment called an endowment policy to repay all or some of the mortgage off at the end of the term.