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Mortgage interest options

We offer two different mortgage interest options Variable and Fixed. Our Mortgage Advisers will talk you through these options and recommend an interest option to meet your needs based on what you tell us.

Variable
A variable rate mortgage means that the interest rate you pay may change during the term of the mortgage. This will result in changes to your monthly payments. When you pay our Standard Variable Rate, we will offer you a Cambridge Variable Mortgage, which gives you a number of flexible features. Please see our Variable Rate Mortgages page for more details.

From time to time we offer special discounts on our Standard Variable Rate. If the variable rate changes during the discounted period of the mortgage term you are still guaranteed to receive the same level of discount. If you opt for one of these special discounts, during the period of the discount we may not provide you with some or all of the flexible features.

Following a change in your interest rate, your monthly payments will be adjusted accordingly and you will be personally notified of your new monthly repayments. We also recalculate your payment at the end of any discount period.

Fixed
Fixing your interest rate for a set period guarantees that your rate will not go up or down. This will help you to budget your monthly outgoings.

At the end of the fixed rate term, your loan transfers to our Cambridge Variable Mortgage and you pay our Standard Variable Rate for the remainder of the mortgage term. We will recalculate your monthly payment to reflect any change to the interest rate.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE