Mortgages
 
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Member range

Home mover mortgages

Whether you are moving home for the first or last time. You can choose from our fixed, discount and tracker mortgages. Please remember, to secure your chosen mortgage you must pay the relevant booking fee.

Product features
  • No higher lending charge.
  • Pay up to 10% in overpayments with no early repayment charges.
  • Make overpayments and you have the potential to make underpayments and take payment holidays to the amount overpaid, on the Flexible Tracker products.
  • Free accident, sickness and unemployment insurance available for the first 3 months.*
  • Daily interest calculation for capital payments; you get the benefit of capital payments straightaway, through a reduction in the interest charged.
  • Maximum loan is £500,000. Loans greater than this can be considered.
  • No early repayment charges after the initial period.
  • Application fees can normally be added to the loan after paying an initial £150 booking fee.
  • In addition to early repayment charges, a redemption fee is payable on full repayment of the mortgage.

Your next home

These home mover mortgages are exclusively for our members. As an extra we offer you FREE 3 months accident, sickness and unemployment insurance* with our mortgages. We can also arrange home insurance to protect your new home.


2 year fixed
Minimum
Deposit		 Initial
Rate		 For the remainder
of the term		 The overall cost
for comparison is		 Application
fee
10% 6.49% 7.09%
Standard
Variable Rate		 7.40% APR £999
20% 6.19% 7.30% APR £999
There are early repayment charges that apply until 31.07.2010

 
2 year flexible tracker
Minimum
Deposit		 Initial
Rate		 For the remainder
of the term		 The overall cost
for comparison is		 Application
fee
10% 6.60%
(1.60% above
‘Bank Rate’)		 6.94%
(1.94% above
‘Bank Rate’)		 7.30% APR £999
20% 6.30%
(1.30% above
‘Bank Rate’)		 7.20% APR £999
There are early repayment charges that apply until 31.07.2010

3 year discount
Minimum
Deposit		 Initial
Rate		 For the remainder
of the term		 The overall cost
for comparison is		 Application
fee
10% 6.54%
(0.55% below
our SVR until 31.03.11)		 7.09%
Standard
Variable Rate		 7.40% APR £999
20% 6.24%
(0.85% below
our SVR until 31.03.11)		 7.30% APR £999
There are early repayment charges that apply until 31.07.2011

Rates correct as at 8 May 2008

How it works

  • Fixed rate mortgages: The interest you are charged on our fixed rate mortgage stays the same for the fixed rate term.
  • Discount rate mortgages: The interest you are charged on a discount mortgage is set percentage below our Standard Variable Rate for the discount term. At the end of this period, your mortgage will revert to our Standard Variable Rate.
  • Flexible tracker mortgages: Our flexible trackers are variable rate mortgages, which track the 'Bank Rate' that can go up or down and affect monthly payments. At the end of the initial rate period, your mortgage will revert to 1.94% above the 'Bank Rate'.

Please Note

* Terms and Conditions apply

1. Our mortgage products can be withdrawn at anytime.  To be certain of obtaining your desired product you will need to follow the procedure and pay the associated booking fee.  Be aware that you will not secure any particular product until the relevant booking fee has been paid.

2. To become eligible for our member products you need to have held a mortgage or savings account with us for 6 months.

3. We may offer different products and/or similar but differently priced products through our various channels (branches, Derbyshire Direct, Intermediaries and the web). For full details of all available products, please contact us.