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Variable Rate Mortgages

Our variable rate product range includes a 2 year discounted rate product and our Cambridge Variable Mortgage. We also offer a 2 year discounted rate product for large loans.

Things you should know;

  • free standard legal and valuation fees for remortgages on our 2 year discounted products (up to 90% LTV) and our Cambridge Variable Mortgage
  • interest only options available (subject to criteria)
  • no upper age limit when considering a mortgage application

Talk with one of the team about our variable rate products today on 0345 601 2744.

Product LTV Initial rate Revert rate Fees Maximum loan Flexible features ERC Remortgage package Valuation fee
 
2 Year Discounted  80% 1.49% (3.25% off our SVR) 4.74%
£999 (including £199 up front)
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Fees

  • Application fee £199 - this is payable at the time of application and is non-refundable
  • Completion fee £800 - this can be paid up front or added to the loan*

    *If added to the loan, we will charge interest on the fee during the term of the loan.
£1,000,000 N/A N/A
Yes
Close
  • For remortgages we pay the standard valuation fee.
  • For remortgages we will also pay the standard legal fees for switching the loan, using our partner conveyancing firm. If any additional legal work is required that is not normally associated with a remortgage, such as rectifying title defects, transfers of equity or other legal matters, the firm will advise your client of the cost and they will be responsible for any fees incurred.
Valuation fees
2 Year Discounted 90% 1.89% (2.85% off our SVR) 4.74%
£999 (including £199 up front)
Close

Fees

  • Application fee £199 - this is payable at the time of application and is non-refundable
  • Completion fee £800 - this can be paid up front or added to the loan*

    *If added to the loan, we will charge interest on the fee during the term of the loan.

​£525,000
N/A
N/A
Yes
Close
  • For remortgages we pay the standard valuation fee.
  • For remortgages we will also pay the standard legal fees for switching the loan, using our partner conveyancing firm. If any additional legal work is required that is not normally associated with a remortgage, such as rectifying title defects, transfers of equity or other legal matters, the firm will advise your client of the cost and they will be responsible for any fees incurred.
Valuation fees
2 Year Discounted 95% 2.99% (1.75% off our SVR) 4.74%
£199 (up front)
Close

Fees

  • Application fee £199 - this is payable at the time of application and is non - refundable.
£400,000 N/A N/A No Free standard valuation
2 Year Large Loan 80% 2.09% (2.65% off our SVR) 4.74%
£1,999 (including £499 upfront)
Close

Application fee £499 - this is payable at the time of application and is non-refundable

Completion fee £1,500 - this can be paid up front or added to the loan*

*If added to the loan, we will charge interest on the fee during the term of the loan.

£1,000,000 -£2,000,000 N/A N/A No Valuation fees
The Cambridge Variable Mortgage 80% 4.74% N/A
£599 (including £199 upfront)
Close

Fees

  • Application fee £199 - this is payable at the time of application and is non-refundable
  • Completion fee £400 - this can be paid up front or added to the loan*

    *If added to the loan, we will charge interest on the fee during the term of the loan.
£1,000,000
Flexible Features
Close

Overpayments

With these mortgages your customer will be able to make unlimited overpayments without incurring any early repayment charges. Any extra monthly payments or lump sum payments made will be classed as overpayments and can be paid by standing order, cash, cheque or transfer. Debit card payments can also be made over the phone or in branch. When your customers makes an overpayment their account is credited for the sum received, and their balance adjusted.

  • Any overpayment made will be deducted from the balance on the same day and the interest adjusted – allowing them to benefit immediately
  • By making extra payments to reduce the balance, the daily interest charged to the loan will also reduce, which will mean that they can repay the loan more quickly
  • Alternatively, your customer can let their overpayments build up and request a refund at a later date
  • Or they can use the overpayments to fund a payment holiday in the future

Payment holidays

Your customer may request a payment holiday after their account has been in operation for at least six months and the overpayments accumulated exceed at least one month’s monthly payment. We may refuse the request if the account has, at any time, fallen into arrears. During the payment holiday we’ll continue to charge interest to the account. Your customers overpayments will be used to maintain the monthly payment that they normally pay. Their payment holiday cannot exceed the total overpayments they've accumulated. If the overpayment balance allows, they can take a payment holiday for up to 12 months. After the payment holiday, they must continue to make at least six normal monthly payments before another payment holiday request can be agreed. All payment holidays must be agreed in advance and the request must be in writing. It normally takes us 14 days to arrange. At the end of your payment holiday, we’ll recalculate the monthly payment.

Refunds of overpayments

Your customer may request a refund of all or part of the overpayments built up on their account. Only overpayments made to the parts of the mortgage on our Cambridge Variable Mortgage product can be refunded. (If they have any other loans or charges secured on the property they must contact one of our Mortgage Advisers for advice).

The request must be in writing and authorised by all account holders. We’ll require 14 days to carry out the request.

In considering the request, we reserve the right to seek confirmation of your clients current income in order to reassess affordability, and carry out a credit check if deemed necessary. We may refuse the request if they fail to prove affordability or have failed to pay the minimum monthly payment or fallen into arrears.

Refunds will normally be made directly to the bank account that your customers mortgage repayment direct debit is received from. This will take up to three days from the date of transfer. Following a refund, we'll recalculate the monthly payment.

N/A
Yes
Close
  • For remortgages we pay the standard valuation fee.
  • For remortgages we will also pay the standard legal fees for switching the loan, using our partner conveyancing firm. If any additional legal work is required that is not normally associated with a remortgage, such as rectifying title defects, transfers of equity or other legal matters, the firm will advise your client of the cost and they will be responsible for any fees incurred.
Valuation fees
The Cambridge Variable Mortgage 85% 4.74% N/A
£599 (including £199 upfront)
Close

Fees

  • Application fee £199 - this is payable at the time of application and is non-refundable
  • Completion fee £400 - this can be paid up front or added to the loan*

    *If added to the loan, we will charge interest on the fee during the term of the loan.
£525,000
Flexible Features
Close

Overpayments

With these mortgages your customer will be able to make unlimited overpayments without incurring any early repayment charges. Any extra monthly payments or lump sum payments made will be classed as overpayments and can be paid by standing order, cash, cheque or transfer. Debit card payments can also be made over the phone or in branch. When your customers makes an overpayment their account is credited for the sum received, and their balance adjusted.

  • Any overpayment made will be deducted from the balance on the same day and the interest adjusted – allowing them to benefit immediately
  • By making extra payments to reduce the balance, the daily interest charged to the loan will also reduce, which will mean that they can repay the loan more quickly
  • Alternatively, your customer can let their overpayments build up and request a refund at a later date
  • Or they can use the overpayments to fund a payment holiday in the future

Payment holidays

Your customer may request a payment holiday after their account has been in operation for at least six months and the overpayments accumulated exceed at least one month’s monthly payment. We may refuse the request if the account has, at any time, fallen into arrears. During the payment holiday we’ll continue to charge interest to the account. Your customers overpayments will be used to maintain the monthly payment that they normally pay. Their payment holiday cannot exceed the total overpayments they've accumulated. If the overpayment balance allows, they can take a payment holiday for up to 12 months. After the payment holiday, they must continue to make at least six normal monthly payments before another payment holiday request can be agreed. All payment holidays must be agreed in advance and the request must be in writing. It normally takes us 14 days to arrange. At the end of your payment holiday, we’ll recalculate the monthly payment.

Refunds of overpayments

Your customer may request a refund of all or part of the overpayments built up on their account. Only overpayments made to the parts of the mortgage on our Cambridge Variable Mortgage product can be refunded. (If they have any other loans or charges secured on the property they must contact one of our Mortgage Advisers for advice).

The request must be in writing and authorised by all account holders. We’ll require 14 days to carry out the request.

In considering the request, we reserve the right to seek confirmation of your clients current income in order to reassess affordability, and carry out a credit check if deemed necessary. We may refuse the request if they fail to prove affordability or have failed to pay the minimum monthly payment or fallen into arrears.

Refunds will normally be made directly to the bank account that your customers mortgage repayment direct debit is received from. This will take up to three days from the date of transfer. Following a refund, we'll recalculate the monthly payment.

N/A
Yes
Close
  • For remortgages we pay the standard valuation fee.
  • For remortgages we will also pay the standard legal fees for switching the loan, using our partner conveyancing firm. If any additional legal work is required that is not normally associated with a remortgage, such as rectifying title defects, transfers of equity or other legal matters, the firm will advise your client of the cost and they will be responsible for any fees incurred.
Valuation fees
The Cambridge Variable Mortgage 90% 4.74% N/A
£599 (including £199 upfront)
Close

Fees

  • Application fee £199 - this is payable at the time of application and is non-refundable
  • Completion fee £400 - this can be paid up front or added to the loan*

    *If added to the loan, we will charge interest on the fee during the term of the loan.
£475,000
Flexible Features
Close

Overpayments

With these mortgages your customer will be able to make unlimited overpayments without incurring any early repayment charges. Any extra monthly payments or lump sum payments made will be classed as overpayments and can be paid by standing order, cash, cheque or transfer. Debit card payments can also be made over the phone or in branch. When your customers makes an overpayment their account is credited for the sum received, and their balance adjusted.

  • Any overpayment made will be deducted from the balance on the same day and the interest adjusted – allowing them to benefit immediately
  • By making extra payments to reduce the balance, the daily interest charged to the loan will also reduce, which will mean that they can repay the loan more quickly
  • Alternatively, your customer can let their overpayments build up and request a refund at a later date
  • Or they can use the overpayments to fund a payment holiday in the future

Payment holidays

Your customer may request a payment holiday after their account has been in operation for at least six months and the overpayments accumulated exceed at least one month’s monthly payment. We may refuse the request if the account has, at any time, fallen into arrears. During the payment holiday we’ll continue to charge interest to the account. Your customers overpayments will be used to maintain the monthly payment that they normally pay. Their payment holiday cannot exceed the total overpayments they've accumulated. If the overpayment balance allows, they can take a payment holiday for up to 12 months. After the payment holiday, they must continue to make at least six normal monthly payments before another payment holiday request can be agreed. All payment holidays must be agreed in advance and the request must be in writing. It normally takes us 14 days to arrange. At the end of your payment holiday, we’ll recalculate the monthly payment.

Refunds of overpayments

Your customer may request a refund of all or part of the overpayments built up on their account. Only overpayments made to the parts of the mortgage on our Cambridge Variable Mortgage product can be refunded. (If they have any other loans or charges secured on the property they must contact one of our Mortgage Advisers for advice).

The request must be in writing and authorised by all account holders. We’ll require 14 days to carry out the request.

In considering the request, we reserve the right to seek confirmation of your clients current income in order to reassess affordability, and carry out a credit check if deemed necessary. We may refuse the request if they fail to prove affordability or have failed to pay the minimum monthly payment or fallen into arrears.

Refunds will normally be made directly to the bank account that your customers mortgage repayment direct debit is received from. This will take up to three days from the date of transfer. Following a refund, we'll recalculate the monthly payment.

N/A
Yes
Close
  • For remortgages we pay the standard valuation fee.
  • For remortgages we will also pay the standard legal fees for switching the loan, using our partner conveyancing firm. If any additional legal work is required that is not normally associated with a remortgage, such as rectifying title defects, transfers of equity or other legal matters, the firm will advise your client of the cost and they will be responsible for any fees incurred.
Valuation fees