Mortgages
 

Variable Rate Mortgages

House Purchase Mortgage Range

Whether you are moving home for the first or last time. You can take advantage of a changing market with our variable rate mortgages.  

Please remember, to secure your chosen mortgage you must pay the relevant booking fee.

Product features
  • No higher lending charge.
  • Daily interest calculation for capital payments; you get the benefit of capital payments straightaway, through a reduction in the interest charged.
  • Maximum loan size is £500,000. Loans greater than this can be considered.
  • No early repayment charges after initial term.
  • Where applicable, application fees can be added to the loan after paying an initial £150 non-refundable booking fee. Adding a fee to the loan will increase the total amount that you will pay. Interest will also be added to the fee.
  • A redemption fee is payable on full repayment of the mortgage. 
  • For house purchases please note that any mortgage products reserved on or before 30th May 2009 will revert to the Standard Variable Rate (SVR). If you choose to switch to a new Derbyshire mortgage product, the new product will revert onto our Standard Mortgage Rate (SMR). Both are variable rates which we may vary in accordance with our mortgage terms and conditions. However, the SVR is guaranteed to be no more than 2% above the Bank of England base rate, whilst the SMR has no upper limit or cap. If you choose to switch to a new product, it is not possible to switch back to the SVR at a later date.
 

A mortgage to suit you

Our flexible tracker mortgages give you the opportunity to take advantage of interest rate changes.  We can also arrange home insurance to protect your new home.

 
2 Year Tracker
Minimum
Deposit		 Initial
Rate		 Variable rate for the remainder of the term currently The overall cost for comparison is Application
fee
30% 2.79%
(2.29% above
'Bank Rate')
until 30.04.12		 4.74%
(4.24% above
'Bank Rate')		 4.60% APR £999
25% 3.39%
(2.89% above
'Bank Rate')
until 30.04.12		 4.74%
(4.24% above
'Bank Rate')		 4.80% APR £999
15% 4.99%
(4.49% above
'Bank Rate')
until 30.04.12		 4.74%
(4.24% above
'Bank Rate')		 5.10% APR £999
There are early repayment charges that apply until 30.04.2012
   
Rates correct as at 16th November 2009

How it works

Our Tracker products are variable rate mortgages, which track the Bank of England Official Bank Rates that can go up or down and affect monthly payments. Advantages of our variable rate mortgages:

  • You can take advantage of possible reducing interest rates.
  • Interest is calculated daily, which will lead to interest savings over the term of the mortgage.

Consider one of our other mortgages if:

  • You want to know how much you will be paying each month then one of our fixed rate mortgages is ideal.
  • You are an existing customer. We offer mortgages for Derbyshire Building Society customers coming to the end of their existing deal.

Please Note

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