First Homes Scheme 2.99% Five Year Fixed 
Interest Rates


Representing a Fixed Rate of 2.99% for the first five years, changing to our Standard Variable rate which is currently 4.99%

4.5% APRC 

(The overall cost for comparison)

Available for: Purchase only

Min/Max Adv: £25,000/£225,000 (£378,000 in London) 

Max Loan To Value:  90% of the discounted purchase price (including arrangement fee) 

Arrangement Fee: £499 

Valuation Fee: Payable on application. See Valuation Fee leaflet.  

Application Fee: £125

Early Repayment Charge (ERC):  3% of the current balance in the first two years and 1% of the current balance for the remaining three years 

Overpayments:  10% of the advance amount can be repaid per annum for five years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum for the first two years and a 1% charge is due on any amount repaid that exceeds 10% per annum for the remaining three years

Restrictions: This mortgage must be repaid on a capital & interest basis  

Other Features: Must be through a registered First Homes provider

Please note that we will consider the following:

  • Guarantor mortgages (max 75% LTV)
  • Self-employed applicants with only 1 year's accounts (Max 75% LTV)
  • Joint borrower, sole proprietor

More Information: 

For more information about the First Homes scheme Click here

Representative Example

A mortgage of £144,750 payable over 35 years initially on a fixed rate for 5 years at 2.99% and then reverting  to our current Residential Standard Variable Rate of 4.99% (variable) for the remaining 30 years would require 60 monthly payments of £556.26 and 360 monthly payments of £708.39 plus one initial interest payment of £367.59 

The total amount payable would be £289,777.59 made up of the loan amount plus interest (£144,013.59) and Arrangement fee (£499), Valuation fee (£240), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.5% APRC representative.

Additional Notes
  • This mortgage summary should be read in conjunction with the Terms and Conditions.
  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion
  • Fees and rates may vary according to the individual case. Fees and rates will be confirmed upon application.