Your Home May Be Repossessed If You Do Not Keep Up Repayments On Your Mortgage.
| Maximum Loan To Value (LTV) | 90% LTV of proposed share |
| Initial Interest Rate | 5.75% (fixed until 30th April 2025) |
Follow On Variable Rate until 30.04.2030, currently: Followed by our Standard Variable Rate thereafter, currently: | 7.49% 8.74% |
| The Overall Cost for Comparison is | 8.30% APRC |
| Interest Calculated | Daily |
The following is a representative example based on a mortgage of £157,152 payable over 25 years initially on a fixed rate of 5.75% until 30th April 2025, a further discounted rate of 7.49% until 30th April 2030, followed by our Standard Variable Rate of 8.74%. In this example you would make an initial payment of £1,247.87, 18 monthly payments of £1,000.30, 60 payments of £1,165.40 and 221 monthly payments of £1,272.60. The total amount payable would be £370,696.87 made up of the loan amount plus interest of £213,269.87 and the following costs, a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£175.00), and a Mortgage Exit Administration Fee (£75.00). The overall cost for comparison is 8.30% 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 until 30th April 2024. 1.50% of the redemption balance until 30th April 2025. |
| Application Fee | There is no Application Fee payable for this product. |
| Scheme Fee | There is no scheme fee payable for this this product. |
| Mortgage Exit Administration Fee | £75 (paid on redemption). |
| Standard Valuation Fee | Paid directly to valuer by the applicant – see Valuation Fee Scale for details. A standard mortgage valuation is required on all properties. |
| Age | Minimum - 18 Maximum - 85 (Interest Only and Part & Part Mortgages) - 90 (Repayment Mortgages) |
| Term | Minimum – 2 years Maximum – 40 years |
| Loan Size | Minimum - £50,000 Maximum – £400,000 (Maximum Loan amounts vary by LTV, please refer to our current criteria for details) |
| Availability | Minimum Share of Property Value – 25% Maximum Share of Property Value – 75% Loan of up to 90% of the proposed share. The property must be a part of the grant funded scheme in England and Wales and to be let under standard lease arrangements which is to include the mortgagee protection clause. For more information on the shared ownership scheme please visit: https://www.helptobuy.gov.uk/shared-ownership/ Available to customers for mortgages secured against their main residential property. This product is available for residential houses only. This product is not available in the Greater London, Outer South East and Outer Metropolitan areas, for confirmation of acceptable areas and property types speak to your mortgage advisor. Designed for borrowers with a limited deposit. The mortgage must be taken on a capital repayment basis. With a discount variable product payments vary as interest rates change. Available to customers who meet our standard lending criteria. Non-standard products are available. Some property types and locations are not acceptable, speak to your Chorley Building Society mortgage advisor for more information. With a variable rate product, payments may vary as interest rates change. |
| Overpayments | The Society will allow overpayments of up to 10% of the capital 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. |
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
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.
T
he 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.