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.

Check updates

Remortgaging

We assess each application on it's own merits to find the perfect fit

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.

Discount Mortgages

Product Name
Initial Rate
Subsequent Rate (SVR)
The overall cost for comparison
Incentives
Maximum loan to value (LTV)
Fees
Early repayment charge

2 Year Discount Self Build: (Up to 80% LTV)
Initial Rate: 4.74%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.30% APRC
Incentives: None
Maximum loan to value (LTV): 80%
Fees: Arrangement Fee: £1,499
Early repayment charge: Apply for 2 years; Full details

3 Year Discount Mortgage: (Up to 80% LTV)
Initial Rate: 2.75%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 4.30% APRC
Incentives: None
Maximum loan to value (LTV): 80%
Fees: Arrangement Fee £1,499
Early repayment charge: For 3 years; Full details

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

3 Year Discount Buy to Let Personal Applicant and Limited Company: Up to 75% LTV
Initial Rate: 3.49%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.0% APRC
Incentives: None
Maximum loan to value (LTV): 75%
Fees: Arrangement Fee: £1,499
Early repayment charge: Apply for 3 years; Full details

5 Year Discount Holiday Buy to Let Mortgage (Personal Applicant): Up to 70% LTV
Initial Rate: 3.24%
Subsequent Rate (SVR): 5.20%.
The overall cost for comparison: 4.70% APRC
Incentives: None
Maximum loan to value (LTV): 70%
Fees: Arrangement Fee: £999
Early repayment charge: Apply for 5 years; Full details

5 Year Discount Holiday Buy to Let Limited Company: Up to 70% LTV
Initial Rate: 3.49%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 4.70% APRC
Incentives: None
Maximum loan to value (LTV): 70%
Fees: Arrangement Fee: £1,499
Early repayment charge: Apply for 5 years; Full details

Retirement Mortgages

Product Name
Initial Rate
Subsequent Rate (SVR)
The overall cost for comparison
Incentives
Maximum loan to value (LTV)
Fees
Early repayment charge

3 Year Fixed Retirement Mortgage with LPA: Up to 50% LTV
Initial Rate: 3.40%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.10% APRC
Incentives: None
Maximum loan to value (LTV): 50%
Fees: Arrangement Fee: £499
Early repayment charge: For 3 years; Full details

3 Year Fixed Retirement Mortgage without LPA: Up to 50% LTV
Initial Rate: 3.80%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.10% APRC
Incentives: None
Maximum loan to value (LTV): 50%
Fees: Arrangement Fee: £499
Early repayment charge: For 3 years; Full details

3 Year Discount Retirement Mortgage with LPA: For already retired borrowers
Initial Rate: 3.49%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.00% APRC
Incentives: None
Maximum loan to value (LTV): 50%
Fees: Arrangement Fee: £499
Early repayment charge: Apply for 3 years; Full details

5 Year Discount Retirement Mortgage with LPA: For already retired borrowers
Initial Rate: 3.95%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.0% APRC
Incentives: None
Maximum loan to value (LTV): 50%
Fees: No Arrangement Fee
Early repayment charge: None; Full details

5 Year Discount Retirement Mortgage without LPA: For already retired borrowers
Initial Rate: 4.70%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.20% APRC
Incentives: None
Maximum loan to value (LTV): 50%
Fees: No Arrangement Fee
Early repayment charge: None; Full details

Buy for Uni Mortgages

Product Name
Initial Rate
Subsequent Rate (SVR)
The overall cost for comparison
Incentives
Maximum loan to value (LTV)
Fees
Early repayment charge

5 Year Discount Buy for Uni Mortgage: Where the Student becomes the Landlord...
Initial Rate: 4.70%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 5.20% APRC
Incentives: None
Maximum loan to value (LTV): 100%
Fees: Arrangement fee: £499 or £899 depending on circumstances
Early repayment charge: N/A; Full details

Fixed Rate Mortgages

Product Name
Initial Rate
Subsequent Rate (SVR)
The overall cost for comparison
Incentives
Maximum loan to value (LTV)
Fees
Early repayment charge

5 Year Fixed Mortgage: (Up to 80% LTV)
Initial Rate: 2.25%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 3.90% APRC
Incentives: None
Maximum loan to value (LTV): 80%
Fees: Arrangement Fee: £999
Early repayment charge: Apply for 5 years; Full details

5 Year Fixed Mortgage Direct Only: (Up to 95% LTV)
Initial Rate: 3.49%
Subsequent Rate (SVR): 5.20%
The overall cost for comparison: 4.70% APRC
Incentives: None
Maximum loan to value (LTV): 95%
Fees: None
Early repayment charge: Apply for 5 years; Full details

Representative example

A mortgage of £120,000 payable over 20 years on an initial rate of 1.99% which includes a 3.21% discount from our standard variable rate for 2 years followed by our standard variable rate, currently 5.20%, for the remaining 18 years would require 24 monthly payments of £606.49 and 216 monthly payments of £785.49.

The total amount payable would be £185,885.60 made up of the loan amount plus interest (£64,221.60), arrangement fee (£999), valuation fee (£245), Solicitor fee (£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...

Speak to us