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Variable Rate Mortgages

Teacher-only variable rate mortgages

Teacher Exclusive, 2 Year Variable Rate Mortgage 20% Deposit 2.69% Variable
2.69% 5.29% 5.0% APRC 80% N/A N/A

Key Features

Variable rate

A variable rate, currently 2.69%, which is discounted by 2.60% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.0% APRC representative.

What you Pay

  • Daily interest.
  • A valuation fee is payable for all properties worth £800,000 or more.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we Pay

  • The first valuation fee for properties worth less than £800,000
  • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

Who can apply and more information

  • Available for home purchase and remortgage applications.
  • At least one applicant must be a qualified teacher or lecturer.

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

Representative Example

A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.69% (equal to a 2.60% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £828.73 and 336 monthly payments of £1116.10.

The total amount payable would be £395,024.23 made up of the loan amount plus interest (£190,324.23) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 5.0% APRC representative.
 

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice

Teacher Exclusive, 2 Year Variable Rate Remortgage 20% Deposit 2.69% Variable
2.69% 5.29% 5.0% APRC 80% N/A N/A

Key Features

Variable rate

A variable rate, currently 2.69%, which is discounted by 2.60% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.0% APRC representative.

What you Pay

  • Daily interest.
  • A valuation fee is payable for all properties worth £800,000 or more.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we Pay

  • The first valuation fee for properties worth less than £800,000
  • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. Shared Ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
  • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

Who can apply and more information

  • Available for remortgage applications.
  • At least one applicant must be a qualified teacher or lecturer.
  • Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.69% (equal to a 2.60% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £828.73 and 336 monthly payments of £1116.10.

    The total amount payable would be £395,024.23 made up of the loan amount plus interest (£190,324.23) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Mortgage 10% Deposit 2.99% Variable
    2.99% 5.29% 5.0% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 2.30% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.99% (equal to a 2.30% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £861.46 and 336 monthly payments of £1118.51.

    The total amount payable would be £396,621.20 made up of the loan amount plus interest (£191,921.20) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Remortgage 10% Deposit 2.99% Variable
    2.99% 5.29% 5.0% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 2.30% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.99% (equal to a 2.30% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £861.46 and 336 monthly payments of £1118.51.

    The total amount payable would be £396,621.20 made up of the loan amount plus interest (£191,921.20) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 3.29% Variable
    3.29% 5.29% 5.1% APRC 95% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.29%, which is discounted by 2.00% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase applications only.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.29% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £894.89 and 336 monthly payments of £1120.83.

    The total amount payable would be £398,204.73 made up of the loan amount plus interest (£193,504.73) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, Shared Ownership, 2 Year Variable Rate Remortgage 5% Deposit 3.90% Variable
    3.90% 5.29% 5.2% APRC 95% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.90%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.2% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Available for Shared Ownership home purchase and remortgage applications.
    • Available to teachers only.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.90% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £964.99 and 336 monthly payments of £1125.28.

    The total amount payable would be £401,385.77 made up of the loan amount plus interest (£196,685.77) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.2% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    All variable rate mortgages

    Back on Track 2 Year Variable Rate Mortgage 40% Deposit 3.59% Variable
    3.59% 5.29% 5.1% APRC 60% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 3.59%, which is discounted by 1.70% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC representative.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.59% (equal to a 1.70% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £929.01 and 336 monthly payments of £1123.06.

    The total amount payable would be £399,973.58 made up of the loan amount plus interest (£195,074.58) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Back on Track 2 Year Variable Rate Remortgage 40% Deposit 3.59% Variable
    3.59% 5.29% 5.1% APRC 60% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 3.59%, which is discounted by 1.70% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC representative.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.59% (equal to a 1.70% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £929.01 and 336 monthly payments of £1123.06.

    The total amount payable would be £399,973.58 made up of the loan amount plus interest (£195,074.58) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Buy-to-Let Mortgage (subject to availability) 25% Deposit 3.49% Variable
    3.49% 5.99% 5.8% APRC 75% £899 £99

    Key Features

    Variable rate

    A variable rate, currently 3.49%, which is discounted by 2.50% from our Buy-to-Let Standard Variable Rate for the first 2 years. It then changes to our Buy-To-Let Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.8% APRC representative.

    What you Pay

    • Daily interest.
    • An arrangement fee of £899 is payable with the application.
    • An application fee of £99 (non-refundable) is payable with the application.
    • A valuation fee is payable.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Minimum income of main applicant is £25,000 (£40,000 if joint application).
    • Minimum property value of £75,000.
    • Minimum loan amount £50,000.
    • Not available for houses in multiple occupancy (must be sole occupant, couple or single family unit).
    • Not available for first-time buyers or professional landlords.
    • A single assured shorthold tenancy agreement will be required.
    • Property cannot be let to family members.
    • Available for home purchase and remortgage applications.
    • This mortgage is not portable.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.49% (equal to a 2.50% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £595.02 and 336 monthly payments of £1018.02.

    The total amount payable would be £562,382.81 made up of the loan amount plus interest (£356,354.81) with a Application Fee of £99.00, Arrangement Fee of £899.00, Funds Transfer Fee of £25.00, Basic Valuation of £330.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.8% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Holiday Let 2 Year Variable Rate Mortgage 25% Deposit 2.99% Variable
    2.99% 5.99% 5.7% APRC 75% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 3.00% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.7% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000

    Who can apply and more information

    • Minimum income of main applicant is £25,000 (£40,000 if joint application).
    • Minimum property value of £75,000.
    • Minimum loan amount £50,000
    • Not available for first-time buyers or professional landlords.
    • Available for home purchase and remortgage applications.
    • This mortgage is not portable.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.99% (equal to a 3.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £509.77 and 336 monthly payments of £1018.76.

    The total amount payable would be £559,254.64 made up of the loan amount plus interest (£354,554.64) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.7% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Holiday Let 2 Year Variable Rate Remortgage 25% Deposit 2.99% Variable
    2.99% 5.99% 5.8% APRC 75% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 3.00% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.7% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Minimum income of main applicant is £25,000 (£40,000 if joint application).
    • Minimum property value of £75,000.
    • Minimum loan amount £50,000
    • Not available for first-time buyers or professional landlords.
    • Available for home purchase and remortgage applications.
    • This mortgage is not portable.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.99% (equal to a 3.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £509.77 and 336 monthly payments of £1018.76.

    The total amount payable would be £559,254.64 made up of the loan amount plus interest (£354,554.64) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.7% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    2 Year Variable Rate Mortgage 20% Deposit 2.89% Variable
    2.89% 5.29% 5.0% APRC 80% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.89%, which is discounted by 2.40% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.89% (equal to a 2.40% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £850.47 and 336 monthly payments of £1117.72.

    The total amount payable would be £396,091.44 made up of the loan amount plus interest (£191,391.44) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    2 Year Variable Rate Remortgage 20% Deposit 2.89% Variable
    2.89% 5.29% 5.0% APRC 80% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.89%, which is discounted by 2.40% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.89% (equal to a 2.40% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £850.47 and 336 monthly payments of £1117.72.

    The total amount payable would be £396,091.44 made up of the loan amount plus interest (£191,391.44) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Back on Track 2 Year Variable Rate Mortgage 20% Deposit 4.04% Variable
    4.04% 5.29% 5.2% APRC 80% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 4.04%, which is discounted by 1.25% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.2% APRC representative.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 4.04% (equal to a 1.25% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £981.47 and 336 monthly payments of £1126.25.

    The total amount payable would be £402,307.01 made up of the loan amount plus interest (£197,408.01) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.2% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Back on Track 2 Year Variable Rate Remortgage 20% Deposit 4.04% Variable
    4.04% 5.29% 5.2% APRC 80% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 4.04%, which is discounted by 1.25% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.2% APRC representative.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 4.04% (equal to a 1.25% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £981.47 and 336 monthly payments of £1126.25.

    The total amount payable would be £402,307.01 made up of the loan amount plus interest (£197,408.01) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.2% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Mortgage 20% Deposit 2.69% Variable
    2.69% 5.29% 5.0% APRC 80% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.69%, which is discounted by 2.60% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.69% (equal to a 2.60% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £828.73 and 336 monthly payments of £1116.10.

    The total amount payable would be £395,024.23 made up of the loan amount plus interest (£190,324.23) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Remortgage 20% Deposit 2.69% Variable
    2.69% 5.29% 5.0% APRC 80% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.69%, which is discounted by 2.60% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. Shared Ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

  • Available for remortgage applications.
  • At least one applicant must be a qualified teacher or lecturer.
  • Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.69% (equal to a 2.60% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £828.73 and 336 monthly payments of £1116.10.

    The total amount payable would be £395,024.23 made up of the loan amount plus interest (£190,324.23) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    2 Year Variable Rate Mortgage 10% Deposit 3.19% Variable
    3.19% 5.29% 5.1% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.19%, which is discounted by 2.10% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.19% (equal to a 2.10% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £883.67 and 336 monthly payments of £1120.07.

    The total amount payable would be £397,679.53 made up of the loan amount plus interest (£192,979.53) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    2 Year Variable Rate Remortgage 10% Deposit 3.19% Variable
    3.19% 5.29% 5.1% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.21%, which is discounted by 2.10% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Available for home purchase and remortgage applications.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.19% (equal to a 2.10% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £883.67 and 336 monthly payments of £1120.07.

    The total amount payable would be £397,679.53 made up of the loan amount plus interest (£192,979.53) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Mortgage 10% Deposit 2.99% Variable
    2.99% 5.29% 5.0% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 2.30% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.99% (equal to a 2.30% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £861.46 and 336 monthly payments of £1118.51.

    The total amount payable would be £396,621.20 made up of the loan amount plus interest (£191,921.20) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Remortgage 10% Deposit 2.99% Variable
    2.99% 5.29% 5.0% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 2.30% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 2.99% (equal to a 2.30% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £861.46 and 336 monthly payments of £1118.51.

    The total amount payable would be £396,621.20 made up of the loan amount plus interest (£191,921.20) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 3.29% Variable
    3.29% 5.29% 5.1% APRC 95% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.29%, which is discounted by 2.00% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase applications only.
    • At least one applicant must be a qualified teacher or lecturer.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.29% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £894.89 and 336 monthly payments of £1120.83.

    The total amount payable would be £398,204.73 made up of the loan amount plus interest (£193,504.73) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, Shared Ownership, 2 Year Variable Rate Mortgage 5% Deposit 3.90% Variable
    3.90% 5.29% 5.2% APRC 95% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.90%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.2% APRC representative.

    What you Pay

  • Daily interest.
  • A valuation fee is payable for all properties worth £800,000 or more.
  • Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for Shared Ownership home purchase and remortgage applications.
    • Available to teachers only.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.90% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £964.99 and 336 monthly payments of £1125.28.

    The total amount payable would be £401,385.77 made up of the loan amount plus interest (£196,685.77) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.2% APRC representative.
     

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, Shared Ownership, 2 Year Variable Rate Remortgage 5% Deposit 3.90% Variable
    3.90% 5.29% 5.2% APRC 95% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 3.90%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.2% APRC representative.

    What you Pay

    • Daily interest.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Available for Shared Ownership home purchase and remortgage applications.
    • Available to teachers only.

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

    Representative Example

    A mortgage of £204,590.00 over 30 years initially on a discounted variable rate of 3.90% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £964.99 and 336 monthly payments of £1125.28.

    The total amount payable would be £401,385.77 made up of the loan amount plus interest (£196,685.77) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.2% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

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