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Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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01633 844 351
2.35% Discount Mortgage - Max LTV 75%*
This mortgage product is only available to participants of the Help to Buy - Wales scheme. This mortgage product offers a variable interest rate that is discounted below our Standard Variable Rate for the first 2 years. At the end of the discount period interest will revert to our Standard Variable Rate.
Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.
Interest Rates
Period of Loan Rate Payable
Months 1-24

Initial Variable Rate, Currently:


(2.89% discount)

Month 25 onwards

Standard Variable Rate, Currently:


Overall cost for comparison 4.8% APRC

Interest Rates are variable. All discounts are off our Standard Variable Rate. If our Standard Variable Rate changes, your monthly repayments could go up or down.

Product Fee

£845 (can be added to the loan)

Maximum Loan to Value (LTV)

75% LTV.

Applicants will need to demonstrate that they have a deposit of at least 5% in the property and up to 20% under a Help to Buy Wales loan.

Loan Size

£40,000 - £228,000

Repayment Type

Repayment Only.



Valuation Fees

One Free Standard Valuation (On Properties up to £1 Million in Value)


Regular overpayments will be permitted without an early repayment charge. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. You may make capital repayments without an early repayment charge. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately.

Further Information
  • *Applicants will need to demonstrate that they have a deposit of at least 5% in the property and up to 20% under a Help to Buy Wales loan.
  • New Build Properties only.
  • Only available in Wales.
  • **£500 cashback will be provided to the home owner upon completion in the form of a cheque or BACS transfer.
  • This product is only available to those using the Help-to-Buy Wales Scheme and only for new build homes in Wales. For more information on the Help-to-Buy Wales Scheme, visit www.helptobuywales.co.uk.
  • Mortgage interest is calculated on a daily basis.
  • Our Tariff of Mortgage Charges gives details of the charges payable in connection with mortgage applications and additional administration following completion of your loan.
  • Loans available to persons aged 18 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.

Representative Example

A mortgage of £210,687 payable over 19 years 10 months initially on a discounted variable rate for 2 years at 2.35% and then on our current variable rate of 5.24% for the remaining 17 years 10 months would require 24 monthly payments of £1,108.6 and 214 monthly payments of £1,394.15.

The total amount payable would be £326,343.74 made up of the loan amount plus interest (£1114,261.74), product fee (£845), application fee (£150), legal costs (estimated £250), funds transfer fee (£25) and mortgage exit fees (£125).

The overall cost for comparison is 4.8% APRC representative.