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.
Products | Prod Code | More Details | Distribution | Initial Rate | Initial Period | Reverts to | App Fee | Product Fee | Free Val? | Fee Assisted Legals? | Max LTV | Min Loan Amount | Max Loan Amount | ERC | Features |
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Foreign Currency Residential (Purchase & Remortgage) | P016 | View Details | Direct & Broker | 6.99% | 3 Years | SVR | £249 | £1250 | No | No | 75% | £75,000 | £500,000 | 3% During Disc Period |
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Special Situations Mortgage | S804 | View Details | Broker & Direct | 6.49% | 3 Years | SVR | £0 | £749 | No | No | 75% | £30,000 | £400,000 | 2% of capital repaid less the overpayment allowance in years 1 & 2 and 1% of the capital repaid less the overpayment allowance in year 3 |
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Multi-Unit Mortgage (Purchase & Remortgage) | P024 | View Details | Broker & Direct | 6.73% | 3 Years | SVR | £249 | £800 | No | No | 50% IO, 80% C&I | £30,000 | £500,000 | 3.00% During Disc Period |
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Expat Holiday Let (Purchase & Remortgage) | P022 | View Details | Direct & Broker | 7.49% | 3 Years | SVR | £249 | £1350 | No | No | 70% | £75,000 | £500,000 | 3.00% During Disc Period |
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2 Year Heartland Discount Purchase 95% | P043 | View Details | Broker & Direct | 5.79% | 2 Years | SVR | £0 | £0 | No | No | 95% | £30,000 | £400,000 | 2% of amount repaid in excess of overpayment allowance in year 1 and 1% of amount repaid in excess of overpayment allowance in year 2 |
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2 Year National Discount Purchase 80% | P045 | View Details | Broker & Direct | 5.49% | 2 Years | SVR | £0 | £500 | No | No | 80% | £30,000 | £750,000 | 2% of amount repaid in excess of overpayment allowance in year 1 and 1% of amount repaid in excess of overpayment allowance in year 2 |
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2 Year Heartland Discount Purchase 80% | P044 | View Details | Broker & Direct | 5.49% | 2 Years | SVR | £0 | £0 | No | No | 80% | £30,000 | £750,000 | 2% of amount repaid in excess of overpayment allowance in year 1 and 1% of amount repaid in excess of overpayment allowance in year 2 |
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2 Year National Remortgage Discount | R276 | View Details | Broker & Direct | 5.49% | 2 Years | SVR | £0 | £500 | Yes | Yes | 80% | £30,000 | £750,000 | 2% 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 |
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2 Year Heartland Remortgage Discount | R275 | View Details | Broker & Direct | 5.49% | 2 Years | SVR | £0 | £0 | Yes | Yes | 80% | £30,000 | £750,000 | 2% 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 |
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Shared Ownership (Purchase) | P019 | View Details | Broker & Direct | 6.43% | 2 Years | SVR | £199 | Nil | No | No | 90% of share | £50,000 | £250,000 | 1.56% During Disc Period |
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Shared Ownership (Remortgage) | R263 | View Details | Broker & Direct | 6.43% | 2 Years | SVR | £199 | Nil | Yes | Yes | 90% of share | £50,000 | £250,000 | 1.56% During Disc Period |
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Heartland Self Build/Renovation – Large Loan (Purchase & Remortgage) | P037 | View Details | Broker & Direct | 5.99% | 3 Years | SVR | £499 | £999 | No | No | 75% | £300,001 | £500,000 | 3.00% During Disc Period |
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Heartland Self Build/Renovation (Purchase & Remortgage) | P036 | View Details | Broker & Direct | 5.99% | 3 Years | SVR | £249 | £750 | No | No | 75% | £30,000 | £300,000 | 3.00% During Disc Period |
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Standard Variable Rate (Purchase & Remortgage) | SV19 | View Details | Broker & Direct | 7.99% | N/A | N/A | £199 | £500 | No | No | 90% | £30,000 | £750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%) | Yes | None |
Buy to Let (Purchase) | P039 | View Details | Broker & Direct | 6.54% | 3 Years | SVR | £249 | £800 | No | No | 70% | £30,000 | £300,000 | 1.45% During Disc Period |
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Buy to Let – Large Loan (Purchase) | P040 | View Details | Broker & Direct | 6.54% | 3 Years | SVR | £749 | £800 | No | No | 70% | £300,001 | £500,000 | 1.45% During Disc Period |
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Buy to Let (Remortgage) | R270 | View Details | Broker & Direct | 6.54% | 3 Years | SVR | £249 | £800 | Yes | Yes | 70% | £30,000 | £300,000 | 1.45% During Disc Period |
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Buy to Let – Large Loan (Remortgage) | R271 | View Details | Broker & Direct | 6.54% | 3 Years | SVR | £749 | £800 | Yes | Yes | 70% | £300,001 | £500,000 | 1.45% During Disc Period |
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Holiday Let (Purchase & Remortgage) | P038 | View Details | Direct & Broker | 6.99% | 3 Years | SVR | £249 | £800 | No | No | 70% | £30,000 | £500,000 | 2.00% During Disc Period |
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Second Home (Purchase & Remortgage) | H2ND | View Details | Broker & Direct | 6.49% | 2 Years | SVR | £249 | £800 | No | No | 75% C&I, 70% IO | £75,000 | £750,000 | 2.00% During Disc Period |
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Residential Further Advance | ADBR | View Details | Broker & Direct | 6.24% | 2 Years | SVR | £99 | Nil | No | No | 90% | £5,000 | £750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%) | 1.75% During Disc Period |
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Buy to Let Further Advance | F851 | View Details | Broker & Direct | 6.54% | 3 Years | SVR | £99 | Nil | No | No | 70% | £10,000 | £500,000 | 145% During Disc Period |
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Expat Residential (Purchase & Remortgage) | P012 | View Details | Direct & Broker | 7.13% | 3 Years | SVR | £249 | £1250 | No | No | 75% | £75,000 | £500,000 | 3.00% During Disc Period |
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Expat Buy to Let (Purchase & Remortgage) | P013 | View Details | Direct & Broker | 7.23% | 3 Years | SVR | £249 | £1350 | No | No | 70% | £75,000 | £500,000 | 3.00% During Disc Period |
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