Your Home May Be Repossessed If You Do Not Keep Up Repayments On Your Mortgage.
Maximum Loan To Value (LTV) | 90% |
Initial Interest Rate | 5.90% (2.84% discount from our Standard Variable Rate for 2 years. The discount is subject to a minimum interest rate floor of 2.00%) |
Follow On Variable Rate for 4 Years, currently: Followed by our Standard Variable Rate thereafter, currently: | 7.49% 8.74% |
The Overall Cost for Comparison is | 8.00% APRC |
Interest Calculated | Daily |
The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 5.90% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make 24 monthly payments of £1,467.87, 48 payments of £1,684.59. and 228 monthly payments of £1,842.12. The total amount payable would be £536,167.56 made up of the loan amount plus interest of £306,092.56 and the following cost, a Mortgage Exit Administration Fee (£75.00). The overall cost for comparison is 8.00% APRC representative. Note: What you will pay may vary from this and will depend on your personal circumstances. |
Early Repayment Charge | 2.50% of the redemption balance in year 1 1.50% of the redemption balance in year 2 |
Mortgage Exit Administration Fee | £75.00 (payable on redemption) |
Age | Minimum - 18 Maximum - No Maximum Age |
Term | Minimum - 2 Years Maximum - 40 Years |
Loan Size | Minimum - £5,000 Maximum - £1,200,000 (Maximum Loan amounts vary by LTV, please refer to our current criteria for details) |
Availability and Suitability | Available for existing mortgage customers with a mortgage of up to 90% LTV, whose special mortgage rate period is coming to an end or wish to switch to another product. This type of product may be suitable if you wish to keep your repayments low for the first two years and do not mind your payments varying. |
Overpayments | The Society will allow overpayments of up to 10% of the redemption balance per annum without invoking an early repayment charge. |
Portability | You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria. |
Insurance | Buildings insurance is compulsory in all instances. |
At Chorley Building Society, we aim to help you find the mortgage that’s right for you and provide you with the best possible service. Whether looking to purchase a home or remortgage, we are here to help.
What you can expect from us:
Book an appointment
Meet one of our mortgage advisers who will explain all your options, services and procedures clearly. No jargon. No pressure. Just honest, trusted professional advice with your interests at heart.
Prepare for your appointment
To ensure we provide you with the best possible service, please review the following and bring as much information as possible to your appointment.
For more information, please contact us on 01257 235001
£1,673,933,442.49
£96,308,019,647.55
£301,308,019,647.55
This information is for illustrative purposes only and does not contain all the details you need to choose a mortgage. All the information required will be provided during an interview with one of our mortgage advisers in a European Standardised Information Sheet.
We accept business from Appointed Representatives (ARs) and Directly Authorised (DA) intermediaries. However you must be registered via a Network or a Mortgage Club to submit a Decision in Principal or Application to us.
All cases are underwritten individually by our qualified underwriters. Call the mortgage team on 01257 235001.
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MIN BTL Rental Figure Required 125% (Basic Rate)
MIN BTL Rental Figure Required 148% (Higher Rate)
Please note that earned income in addition to the rental income( top-slicing) can only be considered by exception
This information is for illustrative purposes only and does not contain all the details you need to choose a mortgage.
The Society will collect your email address as an alternative means of communication if we cannot reach you via telephone. This data will not be used for any other purpose.
Your Home May Be Repossessed If You Do Not Keep Up Repayments On Your Mortgage. Think Carefully Before Securing Other Debts Against Your Home. Get help > .
The Chorley and District Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register under number 206023. Registered Office: Key House, Foxhole Road, Chorley, Lancashire PR7 1NZ.
Chorley and District Building Society is a member of the Building Societies Association and a participant of the Financial Ombudsman Service and Financial Services Compensation Scheme.
Your telephone conversations with the Society may be recorded. This is to help the Society to improve customer service and to offer additional security. Calls and electronic communications may also be monitored for staff training.