Discount Market Scheme - 2 Year Discount 95% LTV (30% OMV Discount)

£500 cashback will be paid to customers who complete a new mortgage application for a residential property purchase or remortgage in the North West.* For more information click here

*North-West region will include postcode prefixes PR, FY, M, L, WA, LA, BB, SK, OL, CA, CH, BL, SK, CW

£250.00 for properties completing with an EPC rating of A or B. (Cashback to be paid once the Society has been provided with a copy of the EPC certificate showing a rating of A or B, no later than 3 months following completion.)

2.50% of the redemption balance in year 1

1.50% of the redemption balance in year 2

There is no Application Fee payable for this product.

£599 (can be added to the loan, subject to LTV and lending criteria, or paid on completion. Fees added to the loan will accrue interest.Further details are available on application).

£50.00 (paid on redemption).

Paid directly to valuer by the applicant – see Valuation Fee Scale for details.

A standard mortgage valuation is required on all properties.

The Discount Market Scheme/Sale (DMS) is a low cost home ownership product where a new build property is purchased at a discounted price. The scheme is intended to help low and middle earners get onto the property ladder when they would otherwise struggle to buy a home on the open market by allowing the purchaser to own 100% of the property but at a reduced price. The discount will remain with the property throughout all subsequent sales and the property can only be sold to a person who fits the eligibility criteria.

Not all councils offer the scheme. Councils who do run this scheme set the eligibility criteria and this can vary between areas. Typically, you cannot have an interest in another property, you must usually have a local connection to the area the home is in and there is typically a household earnings threshold. For more details speak to your Chorley Building Society mortgage adviser and/or contact the local council in the area you would like to buy a home in to enquire about whether they offer the Discounted Market Scheme and their specific eligibility criteria.

Minimum - 18

Maximum - 72

Minimum – 2 years

Maximum – 40 years

Minimum - £50,000

Maximum - £1,200,000 (Maximum Loan amounts vary by LTV, please refer to our current criteria for details)

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 mortgage advisor for more information. With a variable rate product, payments may vary as interest rates change.

The Society will allow overpayments of up to 10% of the capital balance per annum without invoking an early repayment charge.

You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria.

Buildings insurance is compulsory in all instances.