Intermediary Mortgage Products

The Society offers a diverse range of variable rate mortgage products.  Many of which have the benefit of an initial discount off our standard variable rate, currently 7.99%.

This wide range offers solutions for purchasers, those looking to remortgage and those looking to finance a buy to let property.

You can find out more about our fees by visiting our Tariff of Charges and Valuation Fees pages.

To find out mortgage about our lending criteria, visit our handy criteria finder.

The information contained within this page is for professional intermediary use only.
If you are not a mortgage intermediary, please return to our consumer mortgage page
Scroll down for Penrith Mortgage Hub, Products and Lending Criteria links.
From 8th January 2024 to 30th June 2024 we are waiving mortgage application fees for all residential and BTL mortgage applications submitted for new and existing borrowers including further advances. Please note that all other fees still apply.

ProductsProd CodeMore DetailsDistributionInitial RateInitial PeriodReverts toApp FeeProduct FeeFree Val?Fee Assisted Legals?Max LTVMin Loan AmountMax Loan AmountERCFeatures
Foreign Currency Residential (Purchase & Remortgage)P016View DetailsDirect & Broker5.79%3 YearsSVR£249£1250NoNo80%£75,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3

 

  • The product provides a discount off the Society’s SVR for 3 years. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

Special Situations MortgageS804View DetailsBroker & Direct6.49%3 YearsSVR£0£749NoNo75%£30,000£400,0002% of capital repaid less the overpayment allowance in years 1 & 2 and 1% of the capital repaid less the overpayment allowance in year 3
  • Overpayments up to 10% of the outstanding loan per year
  • Portable
Multi-Unit Mortgage (Purchase & Remortgage)P024View DetailsBroker & Direct5.99%3 YearsSVR£249£800NoNo50% IO, 80% C&I£30,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3

 

  • A discount of 2% off the Society’s SVR for 3 years, initial rate payable 5.99%. The rate payable will not go below a floor rate of 3% during the discounted period

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

2 Year Heartland Discount Purchase 95%P043View DetailsBroker & Direct5.79%2 YearsSVR£0£0NoNo95%£30,000£400,0002% of amount repaid in excess of overpayment allowance in year 1 and 1% of amount repaid in excess of overpayment allowance in year 2

 

  • A discount of 2.20% off the Society’s SVR for 2 years, initial rate payable 5.79%. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

2 Year National Discount PurchaseP045View DetailsBroker & Direct5.49%2 YearsSVR£0£500NoNo90%£30,000£500,0002% of amount repaid in excess of overpayment allowance in year 1 and 1% of amount repaid in excess of overpayment allowance in year 2

 

  • A discount of 2.50% off the Society’s SVR for 2 years, initial rate payable 5.49%. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

2 Year Heartland Discount Purchase 80%P044View DetailsBroker & Direct5.49%2 YearsSVR£0£0NoNo80%£30,000£750,0002% of amount repaid in excess of overpayment allowance in year 1 and 1% of amount repaid in excess of overpayment allowance in year 2

 

  • A discount of 2.50% off the Society’s SVR for 2 years, initial rate payable 5.49%. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

2 Year National Remortgage DiscountR276View DetailsBroker & Direct5.49%2 YearsSVR£0£500YesYes80%£30,000£750,0002% of amount repaid in year 1 in excess of overpayment allowance in year 1 and 1% of the amount repaid in excess of the overpayment allowance in year 2

 

  • A discount of 2.50% off the Society’s SVR for 2 years, initial rate payable 5.49%. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

2 Year Heartland Remortgage DiscountR275View DetailsBroker & Direct5.49%2 YearsSVR£0£0YesYes90%£30,000£500,0002% of amount repaid in year 1 in excess of overpayment allowance in year 1 and 1% of the amount repaid in excess of the overpayment allowance in year 2

 

  • A discount of 2.50% off the Society’s SVR for 2 years, initial rate payable 5.49%. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

Heartland Self Build/Renovation (Purchase & Remortgage)P036View DetailsBroker & Direct5.99%3 YearsSVR£249£750NoNo75%£30,000£500,0003.00% During Disc Period

 

  •  Overpayments up to 10% of the outstanding loan, per annum.

 

  • For owner occupation only
Standard Variable Rate (Purchase & Remortgage)SV19View DetailsBroker & Direct7.99%N/AN/A£199£500NoNo90%£30,000£750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%)Yes

None
(If HLC paid by Society, then this is repayable if loan redeemed within first 2 years)

Buy to Let (Purchase)P039View DetailsBroker & Direct5.59%3 YearsSVR£249£800NoNo70%£30,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3

 

  • Overpayments up to 10% of the outstanding loan per year.

 

  • Portable

 

Buy to Let (Remortgage)R270View DetailsBroker & Direct5.59%3 YearsSVR£249£800YesYes70%£30,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3

 

  • Overpayments up to 10% of the outstanding loan per year.

 

  • Portable

 

Holiday Let (Purchase & Remortgage)P038View DetailsDirect & Broker5.59%3 YearsSVR£249£800NoNo70%£30,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3

 

  • A discount of 2.40% off the Society’s SVR for 3 years, initial rate payable 5.59%. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

Residential Further AdvanceADBRView DetailsBroker & Direct5.99%2 YearsSVR£99NilNoNo90%£5,000£750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%)2% of capital repaid in year 1 and 1% of capital repaid in year 2

 

  • Overpayments up to 10% of the outstanding loan per year.

 

  • Portable

 

Expat Residential (Purchase & Remortgage)P012View DetailsDirect & Broker5.79%3 YearsSVR£249£1250NoNo75%£75,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3.

 

  • The product provides a discount off the Society’s SVR for 3 years. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

Expat Buy to Let (Purchase & Remortgage)P013View DetailsDirect & Broker5.59%3 YearsSVR£249£1350NoNo70%£75,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3

 

  • The product provides a discount off the Society’s SVR for 3 years. The rate payable will not go below a floor rate of 3% during the discounted period.

 

  • Overpayments up to 10% of the outstanding loan per year

 

  • Portable

 

Lending Criteria

Lending Criteria

Call Us at Penrith Building Society

Need to know more? Give us a call on 01768 863675