Features and benefits
- We offer fixed rate mortgages for a variety of periods up to 5 years, so you'll know exactly what interest you will be paying.
- We have Tracker mortgages which track the Bank of England base rate for 2 years.
- Mortgages available as repayment, endowment* or interest-only mortgages.
* This type of mortgage is only available if you have an existing suitable life policy.
Choosing the right way to repay.
Whatever your reason for needing a new mortgage we’ll help you decide which type of repayment option will work for you. Our fixed rate mortgages mean your payments will stay the same each month during the fixed period (usually two, three or five years). So you can budget in peace of mind, knowing that your payments will stay the same whatever happens to interest rates generally. Our tracker mortgage rates move in line with the Bank of England base rate (within one month). So depending on the movement of the base rate, your interest rate could go up or down at any time.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT. Lending is at the bank's discretion. How much we lend, the rate available to you and the issue of a mortgage is subject to our assessment of your circumstances. You must be 18 or over and resident in the Channel islands or isle of man to apply.
Current Interest Rates
Interest rates are correct as from 9th February 2012
| Homeowner Variable Rate |
3.99% |
% APR* 4.1% |
Fixed Rate Mortgages
| |
Pay Rate |
Expiry Data |
Valuation Free Product |
Commitment Fee |
| 2 Year Fixed 75% LTV |
3.89%
(APR 4.2%) |
31 July 2014 |
No |
£799 |
| 2 Year Fixed 85%* LTV |
4.09%
(APR 4.2%) |
31 July 2014 |
Yes |
£499 |
| 2 Year Fixed 85%* LTV (Loans between £400k and £650k) |
3.99%
(APR 4.1%) |
31 July 2014 |
No |
£999 |
| 2 Year Fixed 90% LTV |
4.69%
(APR 4.2%) |
31 July 2014 |
Yes |
£499 |
| 3 Year Fixed 75% LTV |
4.09%
(APR 4.2%) |
31 July 2015 |
No |
£799 |
| 3 Year Fixed 85%* LTV |
4.59%
(APR 4.3%) |
31 July 2015 |
Yes |
£499 |
| 3 Year Fixed 90% LTV |
5.59%
(APR 4.5%) |
31 July 2015 |
Yes |
£799 |
| 5 Year Fixed 75% LTV |
4.69%
(APR 4.4%) |
31 July 2017 |
No |
£799 |
| 5 Year Fixed 85%* LTV |
4.99%
(APR 4.5%) |
31 July 2017 |
Yes |
£499 |
| 5 Year Fixed 85%* LTV (Loans between £400k and £650k) |
4.79%
(APR 4.3%) |
31 July 2017 |
No |
£999 |
| 5 Year Fixed 90% LTV |
5.09%
(APR 4.5%) |
31 July 2017 |
Yes |
£499 |
For mortgages taken before 1st February 2011 you will pay interest at the Lloyds TSB Offshore Banking Mortgage Rate, which is variable, from the date after expiry of the fixed term. For mortgages taken on or after 1st February 2011 you pay interest at the Homeowner Variable Rate, which is variable, from the date after expiry of the fixed term. The commitment fee shown is payable before we formally offer a mortgage to you. This will be refunded to first-time buyers on completion. You must be 18 or over to apply. The APR (Annual Percentage Rate) shown is typical for a mortgage of £40,000 over 25 years. All fixed rate offers must be drawn down by 31st July 2012.
*LTV of 90% is only available to residents of the Channel Islands or customers who hold an Island Premier Current Account. Please be aware that a maximum LTV of up to 85% is available for Isle of Man residents who do not hold an Island Premier Current Account.
Tracker Mortgages
| Type of Tracker |
Loan to value |
Margin |
Interest rate 29th March 2012 |
| 2 Year Tracker to May 2014 |
Up to 75% LTV (Loan to value). |
3.49% above Base Rate. |
3.69% (APR 4.20%) |
| 2 Year Tracker to May 2014 |
Up to 85% LTV (Loan to value). |
4.09% above Base Rate. |
4.59% (APR 4.30%) |
| 2 Year Tracker to May 2014 |
Up to 90% LTV* (Loan to value). |
4.49% above Base Rate. |
4.99% (APR 4.40%) |
Interest rates are variable. With a tracker mortgage, the interest rate will be linked to the Bank of England's Base Rate. The rate will be recalculated within one month following any change in the Base Rate. For mortgages taken before 1st February 2011 you pay interest at the Lloyds TSB Offshore Banking Mortgage Rate, which is variable, from the date after expiry of the term of the tracker (if any). For mortgages taken on or after 1st February 2011, you pay interest at the Homeowner Variable Rate, which is variable, from the date after expiry of the term of the tracker (if any). An arrangement fee of £999 is payable for the 'short term' tracker.
**A higher interest rate (as shown) will be charged if the mortgage amount is greater than 75% of the purchase price or valuation (whichever is the lower).
*LTV of 90% is only available to residents of the Channel Islands or customers who hold an Island Premier Current Account. Please be aware that a maximum LTV of up to 85% is available for Isle of Man residents who do not hold an Island Premier Current Account.
Charges and fees
Commitment Fee
| |
Standard Commitment fees |
Gold customers' fees |
Premier |
| Tracker mortgage |
£999 |
£499 |
£0 |
| Fixed Rate mortgage |
£499 - £999 (depending upon selected product) |
£299 - £499 (depending upon selected product) |
£0 |
Legal Fees
You must pay your own legal fees and any fees we incur while setting up your mortgage.
Early repayment
The early repayment charge will be 1 month's interest for every whole or part year of the Fixed Rate period outstanding. The minimum charge will be 3 months.
Other fees and charges
You will need to pay these fees as necessary:
- valuation fee
- stamp duties
- taxes
- communication charges
- building insurance