|Maximum Loan to Value (LTV)||75% LTV|
|Initial Variable Interest Rate, currently||4.59% (1.40% discount from the Society’s Standard Variable Rate for 2 years. The discount is subject to a minimum interest rate “floor” of 2.00%).|
|Followed by our Standard Variable Rate thereafter, currently||5.99%|
|The Overall Cost for Comparison||6.1% APRC|
This product is available for applicants who fall into Category 2 of the Society’s Credit Renew Criteria.
Please see our Credit History Profile section of our lending criteria on our website for more details
The following is a representative example based on a mortgage of £157,152 payable over 25 years initially on a discounted variable rate of 4.59% for 2 years followed by our Standard Variable Rate of 5.99%. In this example you would make an initial payment of £960.65, then 23 monthly payments of £881.60 followed by 276 monthly payments of £1,003.40.
The total amount payable would be £300,376.37 made up of the loan amount plus interest of £141,023.85 and the following costs, a Scheme Fee of (£1,571.52, a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£175), Legal Fees (£354) and a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 6.1% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
|Early Repayment Charge||1.40% of the redemption balance for 2 years.|
|Application Fee||There is no Application Fee payable for this product.|
|Scheme Fee||1.00% of the loan (can be added to the loan, subject to LTV, or paid on completion. Fees added to the loan will accrue interest. Further details are available on application).|
|Mortgage Exit Administration Fee||£75.00 (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.
|CCJ||Subject to 1 or more CCJs in the last 3 years up to the value of £500 that are connected to a credit agreement that does not include secured or unsecured loans
Must be settled before completion
|Default||Subject to 1 or more defaults within the last 2 years connected with a credit agreement that does not include secured or unsecured loans
Must be settled before completion
|Debt Management Plan||Subject to a Debt Management Plan within the last 2 years that started at least 12 months ago that does not include secured or unsecured loans
|Age||Minimum – 18 Years
Maximum – 67 Years
|Term||Minimum – 2 Years
Maximum – 40 Years
|Loan Size||Minimum – £50,000
Maximum – £1,000,000 (Maximum Loan amounts vary by LTV, please refer to our current criteria for details)
|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.|
This is a limited issue and the Society reserves the right to withdraw this scheme without notice at any time.
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
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.
MIN BTL Rental Figure Required 125% (Basic Rate)
MIN BTL Rental Figure Required 148% (Higher Rate)
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.