HomeResidential ProductsIncome Flex MortgagesIncome Flex – 5.85% fixed to 31/08/29 (IO5YRF80)

Income Flex – 5.85% fixed to 31/08/29

IFHF9 With effect from 03 May 2024

Initial Interest Rate

Fixed until 31/08/29 from date of completion.

5.85% fixed
Max Loan to Value (LTV)

Maximum loan to value available:

Product Fees
Application fee
£199 (non-refundable)
Completion fee
£800 (non-refundable)
£999 (non-refundable)
Overall Cost for Comparison

The overall cost for comparison

7.3% APRC representative

Please note your home may be repossessed if you do not keep up repayments on your mortgage

Monthly repayments calculator

Whether you’re looking for residential or buy-to-let products, use our helpful calculators to pre-determine the likely status of your application.

Fee information

Application fee
£199 (non-refundable)
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee
£800 (non-refundable)
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Valuation fee
Free where the price or value of the property is £1million or less.
Fees reference table
Early repayment charge
During year 1: 5% of the amount repaid early plus fees During year 2: 4% of the amount repaid early plus fees During year 3: 3% of the amount repaid early plus fees During year 4: 2% of the amount repaid early plus fees During year 5: 1% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable if you repay any amount in excess of 10% of the mortgage balance in any one year.
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Mortgage exit admin fee
£125 (non-refundable)

Representative Example

A Mortgage of
A mortgage of £232,700 (a loan of £231,900 plus a completion fee of £800 added to the loan)
Payable term
Payable over 26 years, based on a start date of 01/09/24
Initial rate and term
Initially on a fixed rate of 5.85% until 31/08/29
Followed by
Our Homeowner Variable Rate of 8.04% for the remaining 21 years
Monthly payments
60 payments of £1,453.08 followed by 252 payments of £1,732.74
Total amount payable
The total amount payable would be £524,409.28 made up of the loan amount plus interest (£291,135.28) plus the fees below
Arrangement fee
Mortgage exit administration fee
£125 (non-refundable)
Valuation fee
Cost for comparison
7.3% APRC representative

Standard Features

  • Available on properties in England and Wales
  • Available for house purchase or remortgages
  • Additional borrowing is available for existing mortgages
  • Interest Only Mortgages are available up to a maximum of 70% LTV provided a suitable repayment strategy such as equity within a second property owned by the applicants. Alternatively the sale of the applicants residential security will be considered up to a maximum of 60% LTV.
  • Sale of applicants’ residential security will be considered in the specific circumstance of the LTV being 60% or lower and subject to a review of the credibility of downsizing in the local area
  • Minimum loan £100,000 (existing members £50,000)
  • Minimum term 5 years
  • Normal maximum term 40 years, depending on age limits
  • Interest calculated on a daily basis
  • Applications accepted for advances on private dwelling houses of various types providing they are of Standard Construction
  • No tied insurances
  • Minimum age for applicants 18
  • Portable up to the existing mortgage balance
  • Tariff of charges during the life of any mortgage available on request
  • For remortgages, the property must have been owned by the applicants for a minimum of 6 months
  • Cashback for remortgages – £250 cashback paid to your nominated bank account within one month of the completion of your mortgage
Click to view all

Advice about letting your property

Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:

  • National Residential Landlords Association
  • Propertymark

Further guidance and information is also available on the governments Money Helper Website

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Applying for an account

Our team are here to help you through every step of your mortgage application process. We know it may seem daunting, especially if this is your first time, but pick up the phone and speak to one of our advisors and they’ll lay out the process step-by-step.

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