Coronavirus (COVID-19)

If you are concerned about Coronavirus and the impact this may have on your finances, we are here to support you. We are updating our website regularly with information you may need, including any updates on our branch opening times.

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The results of our Annual General Meeting 2019 can be found by clicking the link below.


Initial Rate

2.50% Fixed until 31.07.2025


Early Repayment Charge

A full or partial capital repayment, which exceeds 10% of the capital balance amount in any one year during the fixed rate period, will attract an early repayment charge on the excess payment of:
5% to 31.07.2021
4% from 01.06.2021 to 31.07.2022
3% from 01.06.2022 to 31.07.2023
2% from 01.06.2023 to 31.07.2024
2% from 01.06.2024 to 31.07.2025


A valuation fee is payable. This amount varies depending upon the value of the property. Click here for our latest valuation fee scale.

For a comprehensive list of other fees and charges that may apply to you as a mortgage customer, click here.


Minimum age of applicant: 18

Maximum age of applicant: 85

Minimum term: 5 years, maximum 35 years

Minimum loan size: £75,000

Property location: England & Wales

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Representative Example

A mortgage of £134,000 payable over 18 years based on a capital and interest repayment basis initially on a fixed rate for 63 months at 2.50% and then on our current standard variable rate of 5.20% for the remaining 153 months. The first 63 months would require 63 monthly payments of £771.02 followed by 153 monthly payments of £903.67.
The total amount payable would be £187,580.77 made up of the loan amount plus interest (£52,835.77), standard valuation fee (£325), Solicitor fee (£250), funds transfer fee (£15) and a Mortgage Exit Fee (£155).
The overall cost for comparison is 3.9% APRC representative.
Vernon Building Society
19 St Petersgate

Tel: 0161 429 6262

Telephone calls are recorded and may be monitored for regulatory and training purposes to help maintain service quality.

*The 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.


Vernon Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (registration number 195475).  You can check this on the Financial Services Register. We are also a participant of the Financial Services Compensation Scheme (FSCS). Details of the scheme can be obtained from

Telephone calls are recorded and may be monitored for regulatory and training purposes to help maintain service quality.

For independent information about financial products and services visit