Vernon scraps postcode restriction and cuts rates

Jessica Nangle

June 21, 2019

Vernon Building Society has removed its postcode restriction and has cut the rates on three fixed rate products.

The building society has removed its postcode restrictions to enable all brokers to access its products.

The new products post-rate cut include a 5-year fixed rate at 2.64% up to 90% LTV with a £999 fee, and a 5-year fixed rate at 3.29% up to 95% LTV with no fee.

A 5-year fixed buy-to-let rate at 3.79% up to 75% LTV with a £999 fee is also available.

Tom Gurrie (pictured), head of intermediary sales at Vernon Building Society, said: “We want to make it easy for all brokers to do business with us.

“Over the last two years we’ve steadily expanded our intermediary distribution – completely removing the postcode restriction marks the last step to becoming a nationally focussed lender.

“We look forward to helping even more brokers find competitive products and innovative funding solutions for all their clients who would benefit from an individual, personal approach to their particular situation, rather than a one-size fits all approach.”

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