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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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6.50% Lifetime Discount Portfolio Rate Switch - Max LTV 75%

This mortgage product offers a variable interest rate that is discounted below our Standard Variable Rate for the lifetime of the product.


Period of Loan Rate Payable
Lifetime of the Mortgage

Initial Variable Rate, Currently: 


(1.99% discount for the lifetime of the mortgage. The interest rate will not go below a floor rate of 3.50%)

Overall cost for comparison 6.7% APRC

Interest Rates are variable. All discounts are off our Standard Variable Rate. If our Standard Variable Rate (currently 8.49%) changes, your monthly repayments could go up or down.



75% LTV

No minimum loan size.

Maximum loan for any single property: £1,000,000

Maximum combined loan for multiple properties: £3,000,000

For a minimum of 1 and a maximum of 20 rental/investment type properties (Buy-to-Let, Holiday Let, HMO and/or Multi Unit Freehold).

Mixed Repayment/ Interest only mortgages will be considered.

During the first 5 years any additional amount repaid above the 25% permitted will be subject to an Early Repayment Charge of 5% of the amount repaid in year 1, 4% of the amount repaid in year 2, 3% of the amount repaid in year 3, 2% of the amount repaid in year 4 & 2% of the amount repaid in year 5.

There is no extended tie in. 


Regular overpayments are not permitted during the life of the product. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. You can make capital repayments during the life of the product of up to 25% of the balance outstanding when the product was taken out without incurring an Early Repayment Charge. However, any additional amount repaid above the annual 25% permitted will be subject to an Early Repayment Charge. Following receipt of a lump sum payment, the amount of capital you owe will be re-calculated and the amount of interest you pay will be reduced immediately.


  • The maximum Loan to Value is the amount of a mortgage loan expressed as a percentage of the value of the property against which the loan will be secured. With our portfolio range, the maximum Loan to Value can be assessed across the entire portfolio.
  • Whilst there is flexibility to add, remove and substitute properties within this portfolio, the product is not portable to another mortgage within the Society.  If a property is added, removed or substituted during the life of this mortgage, the entire portfolio will need to be reviewed and assessed at a cost of £150 administration fee. Any valuation or legal fees incurred will need to be paid by the applicant(s). 
  • For loans greater than £3,000,000 please contact us.
  • 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 21 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 £106913.57 payable over 16 years and 9 months and would require 201 monthly payments of £879.17on our standard variable rate of 8.49% with a discount of 1.99% for the lifetime of the product, giving a current pay rate of 6.50%.

The total amount payable would be £174954.83 made up of the loan amount plus interest (£68,041.26).

The overall cost for comparison is 6.7% APRC representative.