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Offset Flexx for Term

Initial rate


Variable rate for term, currently 2.19%

Followed By


Followed By


Overall cost for comparison 2.3% APRC

Max Loan to Value 65%

Product Fee £999

Your home may be repossessed if you do not keep up repayments on your mortgage.

These are some common phrases that mortgage lenders use.

‘Product fee’

A one-off fee charged on some mortgages. You can pay this up-front or add it to the total mortgage amount (and pay interest on it at the same rate as the rest of your borrowing).


‘Early repayment charges’

This is a fee we charge if you overpay, switch or pay off your mortgage early. Early repayment charges don’t always apply – we’ll tell you if they do.

‘Overall cost for comparison’

We take into account the interest, fees and charges that may apply over the life of your mortgage and express it as a percentage. This is the Annual Percentage Rate of Charge (APRC) and you can use it to compare the cost of different mortgages.


‘Initial rate’

This is the interest rate that applies to the initial period of the mortgage.

‘LTV’ – Loan to Value

The LTV is the size of your loan shown as a percentage of the value of your property. If you have an £80,000 mortgage, and the value of your home (or the purchase price, whichever is lower) is £100,000, the Loan to Value is 80%.


‘Followed By rate’

The interest rate you pay following the initial period of the mortgage.

  • Variable rate for term, currently 2.19%
Overall cost for comparison

2.3% APRC

Fees / Incentives
  • Application fee: None
  • Product fee: £999 (can be added to mortgage)
  • Mortgage exit fee: £125
  • Funds transfer fee: £8
  • One valuation included for properties up to the value of £1,000,000
  • Remortgage Transfer Service included

Read the full Tariff of Mortgage Charges and our Fees & Charges leaflet.

Early repayment charges


Max Loan to Value


Interest charged frequency


Product Information

An Offset mortgage links an Offset savings account to an Offset mortgage to reduce the mortgage interest payable. Interest on the mortgage is charged on the difference between the mortgage and savings balances, and this interest is paid alongside the monthly capital repayment amount. All Offset products benefit from the ability to maybe take additional borrowing at the product rate (up to the Loan to Value limit of the product) and also the flexibility to change between reducing the amount owed on your mortgage or reducing your monthly payments.

Flexx for Term offers a variable rate for the term of the mortgage. This rate is set independently of Standard Variable Rate and the Bank of England Base Rate. The mortgage benefits from the ability to make unlimited overpayments without incurring early repayment charges and additional borrowing may be available at the same rate (up to the Loan to Value limit of the product).


This product is portable and can be transferred from the existing property to a new property.

Payment Holidays

Payment holidays may be allowed on this product, please call us for more information.

Mortgage Exit Fee

If the mortgage is paid off before the end of the agreed term, a £125 mortgage exit fee will be payable, plus any applicable early repayment charges.

Application and Valuation Fees

Application and valuation fees (where applicable) are payable on application, and are non-refundable. The application will not be processed until these fees are received. This means the product is not reserved and a valuation will not be instructed.

We will instruct one valuation (up to a maximum of £670) once we've reviewed your application. Fees will apply if the valuation costs more than £670. The valuation is for our benefit only and used to confirm whether we can lend on the property. It's important to remember that we decide the type of valuation most appropriate to the application; therefore a physical inspection of the property may not be required.

Remortgage Transfer Service

When transferring an existing mortgage, our Remortgage Transfer Service will make moving your mortgage to us even easier. For full details of what's included, please see below.

Additional notes

Launch date 31.08.18

Overall cost of a mortgage

To help understand the typical cost of this mortgage, please see the representative example below.

Representative example - (This is not an illustration and should only be used as an example)

A mortgage of £110,000.00 starting on 01.12.19 payable over 25 years on our variable rate, currently 2.19% (variable) would require 299 monthly payments of £481.75, plus one initial interest payment of £206.86.

The total amount payable would be £144,373.83 made up of the loan amount plus interest of £31,939.83, a valuation fee of £210.00, a product fee of £999.00 and a funds transfer fee of £8.00.

The overall cost for comparison is 2.3% APRC representative.

Remortgage Transfer Service
Find out more about what's included in our transfer service here

How much can I borrow? Try our affordability calculator

Find out how much you could borrow with one of our mortgages. It will take about 10 minutes to complete and you’ll need the following information:

Your income for the last three years (regular salary/wages, bonuses, overtime, allowances).

Any credit commitments you have (Loans/student loans, pension payments, credit and store cards, family commitments; school fees, child maintenance, child care).

The calculator will provide an estimate of what we could lend you based on the information you have entered. Please note this is for guidance purposes only.

Ready to get started? Choose the number of applicants below

Offset Mortgage Calculator

Enter a value between £1 and £9,999,999 for Expected property purchase price or valuation.
Enter a value between £1 and £1,000,000. The amount you'd like to borrow can not be more than the property value. Please try again.
We do not have any mortgages available based on the information you have entered. Please try again. Please select a mortgage type.
Please enter a value between £0 and £1,000,000.
Please enter a value between £0 and £1,000,000.

You could reduce your mortgage term to

{{termReductionYears}} years {{termReductionMonths}} months

Your total savings: £{{calculatedTotalSavings}}
Your monthly savings: £{{calculatedMonthlySavings}}

Unfortunately we're unable to complete your request at this time. Please try again or call us on
0800 121 6263
Our Customer Service Centre is open Monday to Friday 8am-8pm, Saturday 9am-5pm and Sunday 10am-4pm.


This example is based on the figures you have provided, but makes the following assumptions.
The mortgage is advanced on the 1st of the month.
No fees or costs associated with arranging or redeeming the mortgage have been taken into account.
The initial deposit is credited to your account at the time the mortgage is advanced.
The regular deposit is credited to your account at the end of the month.
You make no withdrawals throughout the term of the mortgage and your regular monthly deposit does not vary.

Your home may be repossessed if you do not keep up repayments on your mortgage.

How to apply