Why is Alice wearing Newbury Building Society pyjamas?
Alice, Jack, Liv and Will from our Intermediary Team will be taking part in a Sleep-Out on 18 October 2024.
Have we got a summer special for your clients!
Our 3-year variable discount at 75% LTV is being reduced to 4.64% from 5 September 2024.
Is it a good time to consider a discounted variable mortgage for your clients?
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A variable discount mortgage is where you get a discount on the lender's Standard Variable Rate (SVR), which is set in response to the Bank of England's Base Rate.
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This means the mortgage rate can increase or decrease if we change our SVR during the mortgage term, however, those on a discounted variable mortgage will always still have the reward of the discount from our SVR. If our SVR decreases during the mortgage term, so will their payments.
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Following the recent Bank of England base rate decrease of 0.25%, we will be decreasing our Standard Variable Rate to 6.75% effective from 5 September 2024.
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Also, during the ERC period overpayments are permitted on discounted products of up to 20% of the original loan amount per year (vs 10% on fixed products.)
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Our SVR is one of the lowest in the mortgage industry at the time of writing. You can track our SVR against the Bank of England's base rate for the last five years here.
Don't forget!
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Our convenient instant chat is available Monday-Friday, 9.00am to 5.00pm. (from 9.30am on a Wednesday)
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We don't credit score - each and every case is assessed on individual merit and circumstances.
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Our underwriting process is tailored - no one size fits all.
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We consider all types of income and a range of currencies.
Contact us here.
