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Flexible options

If you're interested in flexible payment options take a look at our variable rate mortgages

Variable Rate Mortgages

Our Mortgage Advisers will be happy to discuss your circumstances and help you decide if a variable rate mortgage is the right choice for you.

What is a variable rate mortgage?

A variable rate mortgage means that the interest rate you pay may change during the term of the mortgage. For example if the Bank of England base rate changes then your interest rate may also change. This may result in changes to your monthly payment. Following a change to your interest rate we will write to you to let you know what your new monthly repayments will be

What is a discounted variable rate?

Our Cambridge Variable Mortgage means you pay our Standard Variable Rate for the term of the mortgage. From time to time we may also offer discounted variable rate mortgages. A discounted variable rate mortgage gives you a discount off our Standard Variable Rate for an agreed period. Our discounted variable rate mortgages may not offer the same flexible benefits that we offer with our Cambridge Variable Mortgage

 

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

Our current 2 Year Discounted Variable Rate Mortgages

Product name Initial rate Standard Variable Rate (SVR), currently The overall cost for comparison is Interest type Max LTV Fees Early repayment charge Representative example  
2 Year Discounted Variable Rate 1.89%
(2.85% discount off our SVR)
4.74% 4.3% APRC Variable 85% Application fee: £199

Completion fee: £800
N/A

A mortgage of £243,768.00 payable over 24 years initially on a discounted variable rate for 2 years at 1.89% and then on our Standard Variable Rate of 4.74% for the remaining 22 years would require 24 monthly payments of £1,056.43 and 264 monthly payments of £1,392.01.

The total amount payable would be £393,393.96 made up of the loan amount plus interest (£148,251.96), an application fee of £199.00, a completion fee of £800.00, a valuation fee of £350.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 4.3% APRC representative.

Find out more
2 Year Discounted Variable Rate 2.19%
(2.55% discount off our SVR)
4.74% 4.5% APRC Variable 90% Application fee: £199

Completion fee: £800
N/A

A mortgage of £174,835.00 payable over 27 years initially on a discounted variable rate for 2 years at 2.19% and then on our Standard Variable Rate of 4.74% for the remaining 25 years would require 24 monthly payments of £718.17 and 300 monthly payments of £944.01.

The total amount payable would be £300,913.08 made up of the loan amount plus interest (£124,779.08), an application fee of £199.00, a completion fee of £800.00, a valuation fee of £275.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 4.5% APRC representative.

Find out more
Large Loan 2 Year Discounted Variable Rate 2.09%
(2.65% discount off our SVR)
4.74% 4.2% APRC Variable 80% Application fee: £499

Completion fee: £1,500
N/A

A mortgage of £1,000,000.00 payable over 18 years initially on a discounted variable rate for 2 years at 2.09% and then on our Standard Variable Rate of 4.74% for the remaining 16 years would require 24 monthly payments of £5,563.54 and 192 monthly payments of £6,747.27.

The total amount payable would be £1,430,259.80 made up of the loan amount plus interest (£427,475.80), an application fee of £499.00, a completion fee of £1,500.00, a valuation fee of £760.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 4.2% APRC representative.

Find out more
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Our current Low Deposit 2 Year Discounted Variable Rate Mortgage

Product name Initial rate Standard Variable Rate (SVR), currently The overall cost for comparison is Interest type Max LTV Fees Early repayment charge Representative example  
Low Deposit 2 Year Discounted Variable Rate 2.99%
(1.75% discount off our SVR)
4.74% 4.6% APRC Variable 95% Application Fee: £199

Completion Fee: £0
N/A

A mortgage of £163,237.00 payable over 29 years initially on a discounted variable rate for 2 years at 2.99% and then on our Standard Variable Rate of 4.74% for the remaining 27 years would require 24 monthly payments of £701.59 and 324 monthly payments of £853.50.

The total amount payable would be £293,571.16 made up of the loan amount plus interest (£130,110.16), an application fee of £199.00 and a mortgage funds release fee of £25.00.

This example assumes the mortgage funds release fee is added to the loan and that interest is charged on this fee over the mortgage term.

The overall cost for comparison is 4.6% APRC representative.

Find out more
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Our current Cambridge Variable Rate Mortgages

Product name Initial rate Standard Variable Rate (SVR), currently The overall cost for comparison is Interest type Max LTV Fees Early repayment charge Representative example  
Cambridge Variable Mortgage 4.74% 4.74% 4.9% APRC Variable 80% Application fee: £199

Completion fee: £400
N/A

A mortgage of £165,602.00 payable over 17 years on our Standard Variable Rate of 4.74%  would require 204 monthly payments of £1,185.38

The total amount payable would be £242,291.52 made up of the loan amount plus interest (£75,790.52), an application fee of £199.00, a completion fee of £400.00, a valuation fee of £275.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 4.9% APRC representative.

Find out more
Cambridge Variable Mortgage 4.74% 4.74% 4.9% APRC Variable 85% Application fee: £199

Completion fee: £400
N/A

A mortgage of £165,602.00 payable over 17 years on our Standard Variable Rate of 4.74%  would require 204 monthly payments of £1,185.38

The total amount payable would be £242,291.52 made up of the loan amount plus interest (£75,790.52), an application fee of £199.00, a completion fee of £400.00, a valuation fee of £275.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 4.9% APRC representative.

Find out more
Cambridge Variable Mortgage 4.74% 4.74% 4.9% APRC Variable 90% Application fee: £199

Completion fee: £400
N/A

A mortgage of £165,602.00 payable over 17 years on our Standard Variable Rate of 4.74%  would require 204 monthly payments of £1,185.38

The total amount payable would be £242,291.52 made up of the loan amount plus interest (£75,790.52), an application fee of £199.00, a completion fee of £400.00, a valuation fee of £275.00 and a mortgage funds release fee of £25.00.

This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 4.9% APRC representative.

Find out more

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