The reductions apply across a broad spread of the mutual’s specialist lending segments, including joint borrower sole proprietor (JBSP), professional, complex prime, standard and specialist buy to let (BTL), expat BTL and holiday BTL.
Specific examples include its complex prime two-year discount at 80% loan to value (LTV), which has been reduced from 4.65% to 4.49%.
The firm’s discount BTL two-year mortgage at 75% LTV has been reduced from 5.19% to 5.04%.
The lender’s residential two-year discount large loan rate has been cut from 4.65% to 4.49%.
All discount products allow 25% overpayments per year without early repayment charges (ERCs).
The changing role of the Bank of Mum and Dad
Sponsored by Aldermore
Vernon Building Society said that with further base rate cuts expected, discount products will “appeal to clients who want the potential benefit of any future rate falls, alongside generous overpayment flexibility”.
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said: “Following our recent refresh of our mortgage proposition, we wanted to ensure our discount range remained compelling for intermediaries working with more complex borrowers. By reducing variable rates across key products such as complex prime, professional and specialist buy to let, we’re giving brokers sharper tools to help clients whose needs aren’t met by standard high street offerings.
“With a potential downward movement in base rate on the horizon, we expect more clients to explore discount products. Combined with our 25% overpayment allowance and individually underwritten cases, these changes mean brokers can match specialist borrowers to flexible, competitively priced options that still come with our common‑sense approach to underwriting.”
