Discount Mortgages

A choice of discount mortgage products from Furness Building Society will enable you to choose a rate to suit you for a set period of time. With our Discounted Mortgages, you do not need to look any further.

Variable Rate Discounts

The Society offers a great range of discounts. Please contact us on 0800 22 05 68 for details of our full range of discounted products.

Click on the options below to see our choice of products.

2 Year Discount

1.40% variable rate for 2 years. This is the current Mortgage Variable Rate with a 4.14% discount and £999 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. No Early Repayment Charge.

Representative Example

A mortgage of £120,000 payable over 25 years initially on a discounted rate for 2 years at 1.40% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £141.22  and 276 monthly payments of £558.81.

The total amount payable would be £279,029.84 made up of the loan amount plus interest (£277,620.84) an Application fee of £999.00, a CHAPS Fee of £20.00, a Valuation fee of £170.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.20% APR representative.

Please note the example above is for a house purchase

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

 

› Find out more
Initial rate for 2 years
1.40%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


2 Year Discount

1.40% variable rate for 2 years. This is the current Mortgage Variable Rate with a 4.14% discount and £1,499 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. No Early Repayment Charge. This product is for loans between £300,000 and £500,000. Please refer for mortgages above £500,000

Representative Example

A mortgage of £400,000 payable over 25 years initially on a discounted rate for 2 years at 1.40% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £468.47  and 276 monthly payments of £1,853.76.

The total amount payable would be £925,045.04 made up of the loan amount plus interest (£922,881.04) an Application fee of £1,499.00, a CHAPS Fee of £20.00, a Valuation fee of £425.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.10% APR representative

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
1.40%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.1% APR


2 Year Discount

2.25% variable rate for 2 years. This is the current Mortgage Variable Rate with a 3.29% discount with a £999 fee. Free valuation and legal package available on re-mortgages.

Representative Example

A mortgage of £182,750.00 payable over 25 years initially on a discounted rate for 2 years at 2.25% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £344.61  and 276 monthly payments of £848.48.

The total amount payable would be £426,670.12  made up of the loan amount plus interest (£425,201.12), an Application Fee of £999.00  a CHAPS Fee of £20.00, a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
2.25%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


2 Year Discount

2.45% variable rate for 2 years. This is the current Mortgage Variable Rate with a 2.45% discount. This product has a £499 fee. No Early Repayment Charges

Representative Example

A mortgage of £182,750.00 payable over 25 years initially on a discounted rate for 2 years at 2.25% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £374.23  and 276 monthly payments of £846.17.

The total amount payable would be £426,243.44  made up of the loan amount plus interest (£425,274.44), an Application Fee of £499.00  a CHAPS Fee of £20.00, a Valuation fee £230.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial rate
2.45%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


2 Year Discount

1.99% variable rate for 2 years. This is the current Mortgage Variable Rate with a 3.55% discount. There is a £1,499 completion fee which can be added to the mortgage or paid upfront. Free valuation and legal package available on re-mortgages

Representative Example

A mortgage of £150,000 payable over 25 years initially on a discounted rate for 2 years at 1.99% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £251.31  and 276 monthly payments of £699.61.

The total amount payable would be £351,057.80 made up of the loan amount plus interest (£349,123.80) an Application fee of £1,499.00, a CHAPS Fee of £20.00, a Valuation fee of £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00, and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase on an interest only basis.

 

› Find out more
Initial rate for 2 years
1.99%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


2 year discount

2.79% variable rate for 2 years. This is the current Mortgage Variable Rate with a 2.75% discount. £499 fee which can be added to the mortgage or paid up-front. No Early Repayment Charge.

Representative Example

A mortgage of £172,250  payable over 25 years initially on a discounted rate for 2 years at 2.79% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £402.37  and 276 monthly payments of £798.94.

The total amount payable would be £403,618.32  made up of the loan amount plus interest (£402,684.32), an Application Fee of £499.00  a CHAPS Fee of £20.00, a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
2.79%
Followed by the Mortgage Variable Rate - currently
5.54%
the overall cost for comparison is
5.3% APR


2 Year Discount

3.28% variable rate for 2 years. This is our MVR (currently 5.54%) with a discount of 2.26%.

Representative Example

A mortgage of £142,500 payable over 25 years initially on a discounted rate for 2 years at 3.28% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £389.62  and 276 monthly payments of £658.06.

The total amount payable would be £333,885.44 made up of the loan amount plus interest (£333,475.44), a CHAPS Fee of £20.00, a Valuation fee £170.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.40% APR representative.

Please note the example above is for a house purchase on an interest only basis

› Find out more
Initial Rate for 2 years
3.28%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.4% APR


A 3 year discounted mortgage at 1.75%

1.75% variable rate for 3 years. This is the current Mortgage Variable Rate with a 3.79% discount and £999 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. No Early Repayment Charge. This product is for loans between £300,000 and £500,000. Please refer for mortgages above £500,000

Representative Example

A mortgage of £400,000 payable over 25 years initially on a discounted rate for 3 years at 1.75% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 22 years would require 36 monthly payments of £584.86  and 264 monthly payments of £1,851.45.

The total amount payable would be £911,501.76 made up of the loan amount plus interest (£909,837.76) an Application fee of £999.00, a CHAPS Fee of £20.00, a Valuation fee of £425.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00, and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 4.90% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
1.75%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
4.9% APR


3 Year Discount

2.45% variable rate for 3 years. This is the current Mortgage Variable Rate with a 3.55% discount. There is a £999 completion fee which can be added to the mortgage or paid upfront. Free valuation and legal package available on re-mortgages

Representative Example

A mortgage of £150,000 payable over 25 years initially on a discounted rate for 3 years at 2.45% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £308.38  and 264 monthly payments of £697.30.

The total amount payable would be £346,622.88 made up of the loan amount plus interest (£345,188.88) an Application fee of £999.00, a CHAPS Fee of £20.00, a Valuation fee of £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00, and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.10% APR representative.

Please note the example above is for a house purchase on an interest only basis.

› Find out more
Initial Rate for 3 years
2.45%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.1% APR


2 Year Discount

1.40% variable rate for 2 years. This is the current Mortgage Variable Rate with a 4.14% discount and £999 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. No Early Repayment Charge.

Representative Example

A mortgage of £120,000 payable over 25 years initially on a discounted rate for 2 years at 1.40% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £141.22  and 276 monthly payments of £558.81.

The total amount payable would be £279,029.84 made up of the loan amount plus interest (£277,620.84) an Application fee of £999.00, a CHAPS Fee of £20.00, a Valuation fee of £170.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.20% APR representative.

Please note the example above is for a house purchase

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

 

› Find out more
Initial rate for 2 years
1.40%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


2 Year Discount

1.40% variable rate for 2 years. This is the current Mortgage Variable Rate with a 4.14% discount and £1,499 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. No Early Repayment Charge. This product is for loans between £300,000 and £500,000. Please refer for mortgages above £500,000

Representative Example

A mortgage of £400,000 payable over 25 years initially on a discounted rate for 2 years at 1.40% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £468.47  and 276 monthly payments of £1,853.76.

The total amount payable would be £925,045.04 made up of the loan amount plus interest (£922,881.04) an Application fee of £1,499.00, a CHAPS Fee of £20.00, a Valuation fee of £425.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.10% APR representative

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
1.40%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.1% APR


Existing Customer 2.25% 2 year discount

Existing Customer 2.25% 2 year discount

› Find out more
Initial Rate for 2 years
2.25%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


2 Year Discount

1.99% variable rate for 2 years. This is our MVR (currently 5.54%) with a discount of 3.55%.

Representative Example

A mortgage of £150,000 payable over 25 years initially on a discounted rate for 2 years at 1.99% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £249.65  and 276 monthly payments of £694.98.

The total amount payable would be £348,740.08  made up of the loan amount plus interest (£347,806.08), an Application Fee of £499.00  a CHAPS Fee of £20.00, a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.20% APR representative.

Please note the example above is for a house purchase.

 

› Find out more
Initial Rate
1.99%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


2 Year Discount

2.25% variable rate for 2 years. This is the current Mortgage Variable Rate with a 3.29% discount with a £999 fee. Free valuation and legal package available on re-mortgages.

Representative Example

A mortgage of £182,750.00 payable over 25 years initially on a discounted rate for 2 years at 2.25% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £344.61  and 276 monthly payments of £848.48.

The total amount payable would be £426,670.12  made up of the loan amount plus interest (£425,201.12), an Application Fee of £999.00  a CHAPS Fee of £20.00, a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
2.25%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


2 Year Discount

1.99% variable rate for 2 years. This is the current Mortgage Variable Rate with a 3.55% discount. There is a £1,499 completion fee which can be added to the mortgage or paid upfront. Free valuation and legal package available on re-mortgages

Representative Example

A mortgage of £150,000 payable over 25 years initially on a discounted rate for 2 years at 1.99% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £251.31  and 276 monthly payments of £699.61.

The total amount payable would be £351,057.80 made up of the loan amount plus interest (£349,123.80) an Application fee of £1,499.00, a CHAPS Fee of £20.00, a Valuation fee of £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00, and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase on an interest only basis.

 

› Find out more
Initial rate for 2 years
1.99%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


2 year discount

2.79% variable rate for 2 years. This is the current Mortgage Variable Rate with a 2.75% discount. £499 fee which can be added to the mortgage or paid up-front. No Early Repayment Charge.

Representative Example

A mortgage of £172,250  payable over 25 years initially on a discounted rate for 2 years at 2.79% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £402.37  and 276 monthly payments of £798.94.

The total amount payable would be £403,618.32  made up of the loan amount plus interest (£402,684.32), an Application Fee of £499.00  a CHAPS Fee of £20.00, a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.30% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
2.79%
Followed by the Mortgage Variable Rate - currently
5.54%
the overall cost for comparison is
5.3% APR


Existing Customer 2.99% 2 year discount

Existing Customer 2.99% 2 year discount

› Find out more
Initial Rate for 2 years
2.99%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


Existing Customer 1.99% 2 year discount

Existing Customer 1.99% 2 year discount

› Find out more
Initial Rate for 2 years
1.99%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


Existing Customer 1.50% 2 year discount

Existing Customer 1.50% 2 year discount

› Find out more
Initial Rate for 2 years
1.50%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


Existing Customer 2.59% 3 year discount

Existing Customer 2.59% 3 year discount

› Find out more
Initial Rate for 3 years
2.59%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.1% APR


2 Year Discount

3.28% variable rate for 2 years. This is our MVR (currently 5.54%) with a discount of 2.26%.

Representative Example

A mortgage of £142,500 payable over 25 years initially on a discounted rate for 2 years at 3.28% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £389.62  and 276 monthly payments of £658.06.

The total amount payable would be £333,885.44 made up of the loan amount plus interest (£333,475.44), a CHAPS Fee of £20.00, a Valuation fee £170.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 ,  and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.40% APR representative.

Please note the example above is for a house purchase on an interest only basis

› Find out more
Initial Rate for 2 years
3.28%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.4% APR


A 3 year discounted mortgage at 1.75%

1.75% variable rate for 3 years. This is the current Mortgage Variable Rate with a 3.79% discount and £999 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. No Early Repayment Charge. This product is for loans between £300,000 and £500,000. Please refer for mortgages above £500,000

Representative Example

A mortgage of £400,000 payable over 25 years initially on a discounted rate for 3 years at 1.75% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 22 years would require 36 monthly payments of £584.86  and 264 monthly payments of £1,851.45.

The total amount payable would be £911,501.76 made up of the loan amount plus interest (£909,837.76) an Application fee of £999.00, a CHAPS Fee of £20.00, a Valuation fee of £425.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00, and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 4.90% APR representative.

Please note the example above is for a house purchase.

› Find out more
Initial Rate for 2 years
1.75%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
4.9% APR


Existing Customer 1.75% Discount 80%

Existing Customer 1.75% Discount 80%

› Find out more
Initial Rate for 2 years
1.75%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.2% APR


Existing Customer 2.29% Discount 80% 3 Years

Existing Customer 2.29% Discount 80% 3 Years

› Find out more
Initial Rate for 3 years
2.29%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.0% APR


Existing Customer 2.79% Discount 90% 2 Years

Existing Customer 2.79% Discount 90% 2 Years

› Find out more
Initial Rate for 2 years
2.79%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.3% APR


3 Year Discount

2.45% variable rate for 3 years. This is the current Mortgage Variable Rate with a 3.55% discount. There is a £999 completion fee which can be added to the mortgage or paid upfront. Free valuation and legal package available on re-mortgages

Representative Example

A mortgage of £150,000 payable over 25 years initially on a discounted rate for 3 years at 2.45% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £308.38  and 264 monthly payments of £697.30.

The total amount payable would be £346,622.88 made up of the loan amount plus interest (£345,188.88) an Application fee of £999.00, a CHAPS Fee of £20.00, a Valuation fee of £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00, and a Mortgage Discharge Fee of £90.00.

The overall cost for comparison is 5.10% APR representative.

Please note the example above is for a house purchase on an interest only basis.

› Find out more
Initial Rate for 3 years
2.45%
Followed by the Mortgage Variable Rate - currently
5.54%
The overall cost for comparison is
5.1% APR



Discount Mortgages Guide

A discounted rate mortgage is one where a set interest rate reduction or discount is applied to the Society’s standard variable rate for a specified period of time. Therefore, the rate you pay will vary if the Society’s standard variable rate changes.

Please note







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What to do next?

For more information or to apply for this product you can:

Call: 0800 220 568
Intermediaries Call: 0845 194 8669 › Find your nearest branch › Enquire Online
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