2 year discount 85% loan to value

Discounted for 2 years

Early Repayment Charges apply.

This product may be withdrawn at any time.

arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
no fee
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
0.00% discount from our Standard Variable Rate for two years from inception
followed by our SVR
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
the overall cost for comparison is 5.5% APRC

Product key features

Product availability

This product is available via BuildStore. We will not provide advice on this product.

Who's the product for?

Our range of self and custom build mortgage products have been designed to help borrowers who dream to build their own home.

Mortgage amounts

The minimum mortgage amount is £50,000 and the maximum mortgage amount is £600,000.

The minimum property value upon completion of the build is £75,000 increasing to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 85% during the build phase.

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 35 years.

You will only qualify for this product for 2 years from inception, by which time the build should be completed and you can apply for any suitable product from our standard mortgage range.


Interest rate floor

The interest rate is floored which means that the rate on your mortgage cannot drop below 5.24%.

Early Repayment Charges

You can repay up to 10% of the original mortgage amount each year without being charged. Payments that exceed 10% will be subject to an Early Repayment Charge.

Additionally, if you redeem your mortgage or switch to another product during the discount rate product term then an Early Repayment Charge will apply.

The Early Repayment Charge will be calculated as follows:

  • 2% of the amount repaid for the first year; and
  • 1% of the amount repaid for the second year.
Mortgage tariff of charges

The fees and charges that can apply during the term of your mortgage are detailed on our mortgage tariff of charges download.

Representative example

A mortgage of £145,500 payable over 16 years and 6 months initially on a discounted variable rate for 2 years from inception, currently 5.24% (equal to a 0% discount from our SVR) and then our SVR, currently 5.24% for the remaining term would require an initial payment of £1,146.56 followed by 22 monthly payments of £1,125.55 and 169 monthly payments of £1,125.40.

The total amount payable would be £217,591.26 made up of the mortgage amount plus interest (£70,601.26) with mortgage valuation fees of £325, legal fees of £150, Build Out Insurance cover of £1,000, telegraphic transfer fees of £25 and mortgage exit fees of £125.

The overall cost for comparison is 5.5% APRC representative.

Zoe, from our mortgage team is happy to help 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

We're here to help

  • Discuss your circumstances
  • Help you get the right mortgage
  • Talk through our lending criteria
  • Answer any queries you may have

Our mortgage customers say...

"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage." Mrs Main
Mortgage customer read more

Our mortgage customers say...

"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them." Miss Savell-Boss
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Your home may be repossessed if you do not keep up repayments on your mortgage.