Do you consider mortgages from outside of the Society’s local area?
Yes. We offer mortgages for properties in England and Wales (subject to terms and conditions). |
How much can I borrow?
This will depend on your income, but as a guide, the Society will normally take 100% of your basic income and 100% of guaranteed overtime/bonus/commission. If this is not guaranteed we would take 50% of regular overtime/bonus/ commission. See also income multipliers and refer to the Society's Mortgage Advisers for further details.
We will lend up to 95% of the purchase price but only if you are an existing member, otherwise the maximum is 90%. The maximum Loan to Value (LTV) will decrease to 75% if the property is a Buy to Let.
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What are your income multipliers?
Please refer to ‘Mortgages Explained’ in our Mortgage General Information section.
Please bear in mind that as a small local Society we can be flexible with our income multipliers, subject to loan to value. The Society does have enhanced multipliers if the loan to value is 75% or below. Please refer to the Society's Mortgage Advisers for further details. |
What information do I need to provide you with?
We will go through this with you when you come in to see one of our Mortgage Advisers. Our standard requirements are ID in the form of Driving Licence or Passport, 3 months' payslips if paid monthly or if paid weekly, then 4 weeks. 2 years' certified accounts or tax assessments if self-employed. Plus bank statements and annual mortgage statement if you currently have a mortgage. |
What sort of things do you lend for ?
The Society lends for house purchase or remortgage, including Buy-to-Let, Shared Ownership, Self Build, Right to Buy, Right to Acquire and Second Home purchase. If you are already an existing borrower of the Society, we can also lend additional funds for home improvements. Additional funds may be available for personal use, but special terms apply. Please ask our Mortgage Advisers for details. |
When will we collect the fees on a mortgage application?
We will not collect the fees until the application has passed credit search, so if your application should fail, you will not lose your application fee. |
Can I pay my mortgage by Debit or Credit card?
Yes, please contact our Member Accounts Department on 01473 278457 who will be able to collect the payment by debit or credit card. |
I’d like to buy a second home to use as a holiday home and weekend retreat for my family. Can you help me finance this?
Yes. If you are an existing borrower, we may be able to offer you an Additional Borrowing mortgage to help finance the purchase of the second home. If you have a mortgage with another provider, we may still be able to offer you a remortgage product. Please refer to the Society's Mortgage Advisers for further details. |
I currently have a mortgage with the Society. Can I consolidate some debts?
The Society will consider additional borrowing for consolidation of debts but special conditions apply:
• The total amount being borrowed including the existing mortgage must exceed £25,000 and
• The term for Additional Borrowing does not exceed 10 years and
• The total borrowing must not exceed 90% LTV.
To find out more, please contact one of the Society’s Mortgage Advisers. |
I currently have a mortgage with the Society. I’d like to carry out some home improvements, like replacement windows and a conservatory. Can you help me finance this?
It’s easy to extend your current mortgage with the Society to finance home improvements to your property. To find out more, please contact one of the Society’s Mortgage Advisers. |
