The Derbyshire, takes pride of the fact it is still a mutual organisation, has 52 branches. Everything the Derbyshire does is for the benefit of its customers as it doesn’t have any shareholders and rather than focusing on maximising profits it tries to maximise its customers’ savings and mortgage rates.

The Derbyshire has the following types of mortgage:

Fixed
Discounted
Capped
Flexible Tracker

Fixed Rate: your initial rate will be fixed for an agreed period which might be 2, 5 and 10 years. After the fixed rate period is over your mortgage will revert to the Society’s standard variable rate.

Early repayment charges apply
Interest is calculated daily
There is no higher lending charge
You can make overpayments of up to 10% of the loan per year without incurring an early repayment charge
An application fee applies

Discounted: your rate will be set a discount off the Society’s standard variable rate for 3 years. Your discount rate will be affected by the amount you can afford to put down as a deposit. After the discount period your mortgage will go back to the Society’s standard variable rate.

Early repayment charges apply
Interest is calculated daily
There is no higher lending charge
You can make overpayments of up to 10% of your loan per year, without incurring an early repayment charge
An application fee applies

Capped: your mortgage rate is capped for 5 years and cannot go above a determined rate. Your initial rate is set just above the Bank of England Base Rate for 5 years then your mortgage will revert to the Society’s standard variable rate.

Early repayment charges apply
Interest is calculated daily
There is no higher lending charge
You can make overpayments of up to 10% of your loan per year, without incurring an early repayment charge
An application fee applies

Flexible Tracker: your starting rate is set just above the Bank of England Base Rate for 3 years, then the mortgage will switch to a higher rate above the Bank of England Base Rate.

There are no early repayment charges
You can make overpayments, underpayments and take payment holidays
Interest is calculated daily

Derbyshire also offers re-mortgage products:

Flexible Tracker
Fixed Rate

Flexible Tracker: your starting rate is set just above the Bank of England Base Rate for the first 3 years then the mortgage will revert to a higher charge above the Bank of England Base Rate.

There is no early repayment charge
There is no application fee
Interest is calculated daily
You can make overpayments, underpayments and take payment holidays

Fixed Rate: your original rate is fixed for the first 3 years, then your mortgage will relapse to the Society’s standard variable rate.

Early repayment charges apply
There is no application fee
Interest is calculated daily
You can make overpayments and underpayments and even take payment holidays

The Derbyshire also offers the following Buy to Let mortgages:

Discount
Fixed

Discount: your original rate is set at a discount off the Society’s standard variable rate for 3 years. After the discount period over your mortgage will go back to the Society’s standard variable rate.

An application fee is applicable
Early repayment charges apply
Interest is calculated daily
You can make overpayments and underpayments and even take payment holidays

Fixed: your starting rate is fixed for the first 3 years, then your mortgage will go back to the Society’s standard variable rate.

An application fee is applicable
Early repayment charges apply
Interest is calculated daily
You can make overpayments and underpayments and even take payment holidays