Compare discount mortgages

This comparison includes all mortgages that give you a discount on the lender's standard variable rate for a fixed period. The lender can adjust their rates meaning your charges could rise or fall.

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348 results found, sorted by affiliated products by lowest initial rate. How we order our comparisons. Commission earned affects the table's sort order.
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Progressive Building Society 2 year discount for properties in Northern Ireland
Maximum LTV
60%
Initial rate
0.51% for 2 years (3.84% discount on SVR)
Subsequent rate (SVR)
4.35% variable
Overall cost for comparison
3.17% APRC
Available in branch only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in Northern Ireland
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Progressive Building Society 2 year discount remortgage for properties in Northern Ireland
Maximum LTV
75%
Initial rate
0.51% for 2 years (3.84% discount on SVR)
Subsequent rate (SVR)
4.35% variable
Overall cost for comparison
3.69% APRC
Available in branch only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in Northern Ireland
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Acceptedfalse
Progressive Building Society 2 year discount for properties in Northern Ireland
Maximum LTV
75%
Initial rate
0.79% for 2 years (3.56% discount on SVR)
Subsequent rate (SVR)
4.35% variable
Overall cost for comparison
3.26% APRC
Available in branch only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in Northern Ireland
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Progressive Building Society 2 year discount remortgage for properties in Northern Ireland
Maximum LTV
75%
Initial rate
0.79% for 2 years (3.56% discount on SVR)
Subsequent rate (SVR)
4.35% variable
Overall cost for comparison
3.74% APRC
Available in branch only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in Northern Ireland
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Acceptedfalse
Leek United 2 year discount for existing borrowers
Maximum LTV
75%
Initial rate
0.99% for 2 years (4.2% discount on SVR)
Subsequent rate (SVR)
5.19% variable
Overall cost for comparison
4.5% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of the outstanding balance, in the first year

- 0.50% of the outstanding balance, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Existing Borrowers Only
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Accord Mortgages 2 year discount for existing borrowers
Maximum LTV
65%
Initial rate
1.0% for 2 years (3.49% discount on SVR)
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
3.7% APRC
Available via brokers only. Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£1,495 with an option to add to the loan
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of amount paid, before 31 Jan 2024

Other fees may apply.

Eligibility
Available in England
Available in Scotland
Available in Wales
Broker Only
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Accord Mortgages 2 year discount for existing borrowers
Maximum LTV
75%
Initial rate
1.09% for 2 years (3.4% discount on SVR)
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
3.7% APRC
Available via brokers only. Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£1,495 with an option to add to the loan
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of amount paid, before 31 Jan 2024

Other fees may apply.

Eligibility
Available in England
Available in Scotland
Available in Wales
Broker Only
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Furness Building Society 2 year discount
Maximum LTV
80%
Initial rate
1.09% for 2 years (4.05% discount on SVR)
Subsequent rate (SVR)
5.14% variable
Overall cost for comparison
4.6% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£1,499 with an option to add to the loan
Additional information

Early repayment charge

If you pay all of your mortgage early you will be charged:

- 3.00% of amount paid, in the first year

- 2.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Progressive Building Society 2 year discount for properties in Northern Ireland
Maximum LTV
80%
Initial rate
1.09% for 2 years (3.26% discount on SVR)
Subsequent rate (SVR)
4.35% variable
Overall cost for comparison
3.36% APRC
Available in branch only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in Northern Ireland
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Progressive Building Society 2 year discount remortgage for properties in Northern Ireland
Maximum LTV
80%
Initial rate
1.09% for 2 years (3.26% discount on SVR)
Subsequent rate (SVR)
4.35% variable
Overall cost for comparison
3.8% APRC
Available in branch only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in Northern Ireland
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Acceptedfalse
Furness Building Society 2 year discount
Maximum LTV
80%
Initial rate
1.19% for 2 years (3.95% discount on SVR)
Subsequent rate (SVR)
5.14% variable
Overall cost for comparison
4.6% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all of your mortgage early you will be charged:

- 3.00% of amount paid, in the first year

- 2.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Leek United 2 year discount cashback remortgage
Maximum LTV
75%
Initial rate
1.2% for 2 years (3.99% discount on SVR)
Subsequent rate (SVR)
5.19% variable
Overall cost for comparison
4.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of the outstanding balance, in the first year

- 0.50% of the outstanding balance, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Accepted
Monmouthshire Building Society 2 year discount
Maximum LTV
80%
Initial rate
1.39% for 2 years (3.35% discount on SVR)
Subsequent rate (SVR)
4.74% variable
Overall cost for comparison
4.2% APRC
More information
Application fee£150 paid upfront (non-refundable)
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at application80 years
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Monmouthshire Building Society 2 year discount for existing borrowers
Maximum LTV
80%
Initial rate
1.39% for 2 years (3.35% discount on SVR)
Subsequent rate (SVR)
4.74% variable
Overall cost for comparison
4.2% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Existing Borrowers Only
Max age at application80 years
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Monmouthshire Building Society 2 year discount remortgage
Maximum LTV
80%
Initial rate
1.39% for 2 years (3.35% discount on SVR)
Subsequent rate (SVR)
4.74% variable
Overall cost for comparison
4.2% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Max age at application80 years
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Accepted
Newcastle Building Society 2 year discount
Maximum LTV
80%
Initial rate
1.45% until 31 Jan 2024 (2.51% discount on SVR)
Subsequent rate (SVR)
3.96% variable
Overall cost for comparison
3.6% APRC
Available via telephone only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£199 paid upfront (non-refundable)
Completion feeNo fee
Product fee£800 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of amount paid, before 31 Jan 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Leek United 2 year discount for existing borrowers
Maximum LTV
80%
Initial rate
1.49% for 2 years (3.7% discount on SVR)
Subsequent rate (SVR)
5.19% variable
Overall cost for comparison
4.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.00% of the outstanding balance, in the first year

- 0.50% of the outstanding balance, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Existing Borrowers Only
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Vernon 2 year discount remortgage
Maximum LTV
60%
Initial rate
1.49% for 2 years (3.71% discount on SVR)
Subsequent rate (SVR)
5.2% variable
Overall cost for comparison
4.2% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Accepted
Beverley 2 year discount
Maximum LTV
65%
Initial rate
1.52% for 2 years (3.47% discount on SVR)
Subsequent rate (SVR)
4.99% variable
Overall cost for comparison
4.4% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£1,895 with an option to add to the loan
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Beverley 2 year discount remortgage
Maximum LTV
65%
Initial rate
1.52% for 2 years (3.47% discount on SVR)
Subsequent rate (SVR)
4.99% variable
Overall cost for comparison
4.4% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£1,895 with an option to add to the loan
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Accepted
Chorley Building Society 2 year discount cashback remortgage
Maximum LTV
60%
Initial rate
1.56% for 2 years (3.68% discount on SVR)
Subsequent rate (SVR)
5.24% variable
Overall cost for comparison
4.9% APRC
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Scheme fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.68% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available in England
Available in Wales
Broker Only
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Accepted
Chorley Building Society 2 year discount
Maximum LTV
60%
Initial rate
1.65% for 2 years (3.59% discount on SVR)
Subsequent rate (SVR)
5.24% variable
Overall cost for comparison
4.8% APRC
Available via brokers only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Scheme fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.59% of amount paid, in the first two years

Other fees may apply.

Eligibility
Available in England
Available in Wales
Broker Only
First Time Buyers
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Furness Building Society 2 year discount
Maximum LTV
80%
Initial rate
1.67% for 2 years (3.47% discount on SVR)
Subsequent rate (SVR)
5.14% variable
Overall cost for comparison
4.6% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of amount paid, in the first year

- 2.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Newbury Building Society 3 year discount
Maximum LTV
75%
Initial rate
1.69% for 3 years (2.26% discount on SVR)
Subsequent rate (SVR)
3.95% variable
Overall cost for comparison
3.2% APRC
Available in branch only.
More information
Application fee£600 with an option to add to the loan
Arrangement feeNo fee
Booking fee£300 paid upfront
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the original loan, in the first year

- 2.00% of the original loan, in the second year

- 1.00% of the original loan, in the third year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at term end70 years
Minimum Age21 years
Permanent UK Resident
Self Employed Accepted
Newbury Building Society 3 year discount remortgage
Maximum LTV
75%
Initial rate
1.69% for 3 years (2.26% discount on SVR)
Subsequent rate (SVR)
3.95% variable
Overall cost for comparison
3.2% APRC
Available in branch only.
More information
Application fee£850 with an option to add to the loan
Arrangement feeNo fee
Booking fee£300 paid upfront
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the original loan, in the first year

- 2.00% of the original loan, in the second year

- 1.00% of the original loan, in the third year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
Max age at term end70 years
Minimum Age21 years
Permanent UK Resident
Remortgage Available
Remortgage Only
Self Employed Accepted

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Overall representative example

Based on borrowing£170,000 over 25 yearsThe overall cost of comparison3.66% APRC representative
Initial rate2.08% fixed for 2 years (24 instalments of £710.99pm)Subsequent rate (SVR)3.88% variable for the remaining 23 years (276 instalments of £876.40pm)
Lender fee£550Total amount payable£259,498.79

What is a discount mortgage?

It is a mortgage with a variable interest rate that is a set amount below the lender's standard variable rate (SVR).

The interest rate on your mortgage will rise and fall by the same amount as changes to the lender's SVR.

The interest rate is usually lower than the SVR by one or two percent, and this amount is called the discount.

For example, if your mortgage offers a 1.5% discount and the SVR is currently 5%, your interest rate will be 3.5%.

  • If your lender's SVR goes up to 6%, your new interest rate will be 4.5% and your repayments will increase.

  • If your lender's SVR goes down to 4%, your new interest rate will be 2.5% and your repayments will reduce.

What is the SVR?

Each mortgage lender has a standard variable rate, which is the interest rate they give you once an introductory deal ends.

They can change their SVR whenever they want to, and it will often move up or down when the Bank of England base rate changes.

How long do discounts last?

Your discounted interest rate only lasts for a set period of time, usually one, two or three years.

Some discount rates last longer, and a few lifetime discounts are guaranteed for up to 25 years.

There is usually a fee for switching mortgage deals during the discount term. After the term ends, you will usually be put on the lender's SVR or you can move to a new mortgage deal.

What other types of interest rate can you get?

  • Fixed rates offer an interest rate that will not change during its initial term

  • Tracker rates offer an interest rate for a set time that will go up or down whenever a financial indicator like the Bank of England base rate changes

  • Variable rates can change whenever the lender decides to put them up or down

  • Capped rates can be variable, discount or tracker mortgages, and they come with a guarantee that the interest will not rise above a certain rate

Should you get a fixed, tracker or variable mortgage?

Choose the right mortgage

Our comparison above includes every discount rate mortgage available in the UK.

As well as finding a deal with a low initial interest rate, make sure you could still afford your repayments if they increase because discount interest rates can go up at any time.

If you prefer the security of paying the same amount every month, consider a fixed rate mortgage instead.

Read our guide to help you choose the best mortgage before you decide.

Discount rate mortgages FAQs

What happens when the discount ends?

How low can my rate fall?

Can I pay off my mortgage before the term ends?

Will applying for a mortgage affect my credit rating?

Can first time buyers get a discount mortgage?

About our mortgage comparison

Who do we include in this comparison?

How do we make money from our comparison?

Last updated: 11 October, 2021

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