Help to Buy fixed rate until 29 November 2026 75% LTV

Key Features

Mortgage type 
  • A fixed rate mortgage has an interest rate that stays the same for a set period of time. During the fixed rate period your monthly repayments stay the same. At the end of the fixed rate period the interest rate will change, usually to the lender's standard variable rate (SVR).
Interest rates 
  • 2.49% fixed until 29 November 2026 changing to our Standard Variable Rate (SVR) for the remainder of the mortgage
Maximum loan to value 
  • 75 %
Minimum deposit as a % of the value of the property 
  • 5%
  • Application Fee: Purchase £300
  • Application Fee: Remortgage £550
  • Application Fee: Existing borrower product transfer £0
  • Booking fee: £300
  • Booking Fee: Existing borrower product transfer £0
  • Mortgage Exit Administration Fee (MEAF): £100
  • Overpayments allowed
  • Free valuation
Loan size 
  • £50,000 (min) - £450,000 (max). (£40,000 minimum for existing borrowers transferring onto this product).
Early repayment charge (ERC) 
  • The Early Repayment Charge (ERC) period applies from the date of completion.
  • For this product the ERC period is until 29 November 2026.
  • ERC is 5% to 29 November 2022, 4% to 29 November 2023, 3% to 29 November 2025, 2% to 29 November 2026 of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product).
  • During the ERC period you are permitted to make overpayments up to 10% of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product) per year. If overpayments exceed 10% in a year during the ERC period, you will have to pay the relevant ERC percentage rate on the amount of overpayment exceeding the permitted level.
  • The full ERC is payable on the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product) if you repay your mortgage in full during the ERC period. The ERC will also be levied on previously permitted overpayments.
  • Products are available to those purchasing or remortgaging their residential home, through the Help to Buy scheme, subject to product terms.
  • The mortgage term must be between 5 and 35 years.
  • The mortgage must be on a capital and interest repayment basis.
  • The property must be located in England or Wales.
  • Also available for existing borrowers to transfer their existing mortgage into, subject to payment of any ERC's that apply on their current mortgage and for existing borrowers moving house.
  • Maximum property value of up to £600,000 applies, dependent on region (see more details)
  • The following postcodes in London and the surrounding area are restricted to 60% loan to value: CR, E, EC, EN, HA, IG, KT, N, NW, RM, SE, SM, SW, TW, UB ,W and WC.
  • Minimum property value of £125,000
Representative example

A mortgage of £75,000 payable over 25 years initially on a fixed rate for 4 years and 11 months at 2.49% and then on our standard variable rate, currently 3.95% for the remaining 20 years and 1 month would require 59 monthly payments of £336.08 and 241 monthly payments of £383.20 plus one initial interest payment of £71.63.

The total amount payable would be £113,201.55 made up of the loan amount plus interest of £37,251.55, a booking fee of £300, an application fee of £550 and a MEAF of £100.

The overall cost for comparison is 3.5% APRC representative.

Additional information



    Legal costs

  • Legal work is required when buying your home and is carried out by a solicitor, payable by you. We can use the same solicitors as you, providing there is a minimum of four Approved Managers/ Licence Holders and they are registered on The Law Society website ( Licenced conveyancers are also acceptable for residential business only. The conveyancer must be registered with the Council of Licenced Conveyancers and be in a firm with at least four Approved Managers/Licence Holders.
  • Incentives

  • We will carry out a standard mortgage valuation at our cost, providing the mortgage completes. If the mortgage does not complete and the valuation has been carried out, you are responsible for paying it. You can upgrade to a Home Buyers report if you wish and if you would prefer a full building survey, we can give you the names of some local surveyors who can organise this for you.
  • You can upgrade to a Home Buyers report if you wish and if you would prefer a full building survey, we can give you the names of some local surveyors who can organise this for you. (see our Mortgages Explained booklet for valuation and home buyer fees).
  • If an existing borrower who is not moving house would like a revaluation carried out to assess which LTV tier they qualify for they will be required to pay a revaluation fee (see our Mortgages explained booklet for details).
  • Qualification

  • You need to be accepted by a local Help to Buy agent for the Help to Buy scheme.
  • Maximum Loan to Value

  • Loan to value (LTV) is the proportion of the value or price of the property (whichever is lower) that you borrow on a mortgage. For example, a £150,000 mortgage on a house valued at £200,000 would mean a LTV of 75%.
  • All mortgages must be on a capital and interest repayment basis.
  • For existing borrowers transferring onto this product the LTV will be calculated on the current loan outstanding and the indexed valuation held on our records. If the borrower feels the indexed valuation is inaccurate it can be reviewed by contacting our Customer Services department.
  • Fees

  • The application fee can be added to the mortgage and is refundable if the mortgage does not take place. If you add the application fee to your mortgage, this increases the amount you borrow and will also increase your monthly payments.
  • A booking fee of £300 is payable on application and is non-refundable. Payment of the booking fee reserves the requested funding within the timescales given below.
  • A Mortgage Exit Administration Fee (MEAF) applies when you repay your mortgage. Please see our Tariff of charges leaflet and your European Standardised Information Sheet (ESIS) for details.
  • Timescales

  • House purchases must complete within three months of the date of the formal mortgage offer. Remortgages must complete within three months from the date the application is received.
  • Where existing borrowers transferring their mortgage are not in an early repayment charge period, the transfer must take place with two weeks of the mortgage offer.
  • For new build properties the mortgage offer is valid for up to 6 months. The application must be able to complete in the product time scales. Therefore, the new build property must be completed and available for occupation within six months of the mortgage offer.
  • Portability

  • All our mortgages are portable, which means that if you move house within an early repayment charge period the product can be transferred to your new mortgage, up to the value of the product outstanding at redemption, without charge. If the loan amount on your new mortgage is lower, there may be a charge based on the difference between the old and the new loan amount. A higher lending charge may be applicable for the new mortgage.
  • Other charges

  • Charges applying to the ongoing administration of your mortgage are detailed in our Tariff of charges PDF, which you will be given before your mortgage completes.
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