Why the Vernon?
Our personal service and individual approach differentiates us from many other financial institutions. People choose the Vernon for many reasons; here are a few:
Face-to-face Advice
Members value face to face advice and that’s why we continue to invest in our branch network. We have qualified mortgage advisers available at every branch.
Local
With almost a century of local knowledge, we fully understand the unique needs of a community that is at the heart of everything we do.
Human Underwriter
Common sense decisions by experienced underwriters, not computers. We understand life can sometimes be complicated.
Help Throughout
We offer a knowledgeable and experienced approach with a single point of contact - no call centres. Our people have on average over 10 years’ service with the Vernon.
Lasting Relationships
Founded in 1924, the Vernon has served generations of members. From our younger savers accounts, to retirement mortgages; the Vernon is here for you, for life.
Buy To Let Mortgages
- Product Name
- Initial Rate
- Subsequent Rate (SVR)
- The overall cost for comparison
- Incentives
- Maximum loan to value (LTV)
- Fees
- Early repayment charge
-
- BTL Flexible discount
- 3 Year Discount
- Initial Rate
- 3.45%
- Subsequent Rate (SVR)
- 4.95%
- The overall cost for comparison
- 4.8%
- Incentives
- None
- Maximum loan to value (LTV)
- 70%
- Fees
-
Arrangement fee: £995 per property
- Early repayment charge
- None
-
Full details
-
- Holiday Lets
- 3 Year Fixed Rate
- Initial Rate
- 3.69%
- Subsequent Rate (SVR)
- 4.95%
- The overall cost for comparison
- 4.8%
- Incentives
- None
- Maximum loan to value (LTV)
- 70%
- Fees
-
Booking fee: £99, Arrangement fee: £899 per property
- Early repayment charge
- 3%
-
Full details
-
- Limited Company BTL
- 3 Year Fixed Rate
- Initial Rate
- 3.69%
- Subsequent Rate (SVR)
- 4.95%
- The overall cost for comparison
- 5.0%
- Incentives
- None
- Maximum loan to value (LTV)
- 70%
- Fees
-
Booking fee: £99, Arrangement fee: £1,899 per property
- Early repayment charge
- 3%
-
Full details
-
Representative example
A mortgage of £76,000 payable over 15 years on an initial rate of 3.45% which includes a 1.5% discount from our standard variable rate for 3 years and then on our standard variable rate, currently 4.95%, for the remaining 12 would require 36 monthly payments of £541.45 and 144 monthly payments of £588.20.
The total amount payable would be £105,813 made up of the loan amount plus interest (£28,193) and arrangement fee (£995), valuation fee (£205), solicitor fees (£250), Funds Transfer Fee (£15) and a Mortgage Exit Fee (£155).
The overall cost for comparison is 4.8% APRC representative.
Your home may be repossessed if you do not keep up repayments
Need advice on mortgages?
We aim to make applying for your mortgage as stress free and easy to understand as possible by helping you with your mortgage choices and application. Start a conversation with us today...
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