Fee Free 2 Year Discount for Self Builds, Advance Stage Payment exclusive to Buildloan at 5.25% - Maximum LTV 80%

The Society’s Mortgage Variable Rate 5.54%

Initial variable rate for 2 years


0.29% discount off our Mortgage Variable Rate, then changing to

The Society’s Mortgage Variable Rate


for the remaining term of the mortgage

The overall cost for comparison is

5.70% APRC

Product fee


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

Full Details

Details of the selected product


This is a 5.25% 2 year discounted variable rate mortgage.  A 20% deposit is required.

This mortgage is available for both house purchase and remortgages.

An early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. This charge will be applied on a sliding scale of 2% in the first year and 1% in the second year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years.

The minimum loan amount is £50,000 and the maximum loan amount is £500,000.

The maximum term available is 40 years.

This product is only available for self build mortgages, funds are released at the start of each stage.

This product has a floor rate.

Representative Example

A mortgage of £200,000 payable over 25 years initially on a discounted rate for 2 years at 5.25% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £1,198.77 and 276 monthly payments of £1,231.10.

The total amount payable would be £369,084.08 made up of the loan amount plus interest (£368,509.08) no Application fee, a CHAPS Fee of £20.00, a Valuation fee of £305.00, a Legal fee of £105.00, an Insurance Administration fee of £25.00 , and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 5.7% APRC representative.

Please note the example above is for a house purchase on a capital and interest repayment basis.

Choose another product

Mortgage Calculator

Find out your monthly payments

Fill in the details below to find out how much you will need to pay on a monthly basis on a repayment mortgage and an interest only mortgage.

1How much do you wish to borrow?
2What interest rate percentage would you like an illustration on (not the APRC)?
3How long do you want to repay the mortgage?
30 years
0 months

Need help on

How to apply for a Mortgage

Please contact us if you would like to apply for a mortgage. You can call us on 0800 220 568 and ask to speak to one of our mortgage advisors.

Find a branch

Like most websites Furness Building Society use cookies, and in order to continually improve our website, we collect non-personal data through cookies. By continuing to use the website you are accepting the use of these cookies. To find out more read our Cookie Policy.