@PBS / SECURE LOGINIf your mortgage deal has a capped rate, the interest rate charged by the lender will never exceed the upper ‘capped’ limit, regardless of increases to the Bank of England base rate or the lenders Standard Variable Rate.
Your monthly payment covers the interest and also reduces the total balance outstanding.
The amount of money you borrow to buy a property.
A buy-to-let property is bought with the sole intention of letting it to tenants. We offer special buy-to-let mortgage deals for this purpose.
Insurance that covers you for damage to the structure of your home. A lender will require you to have this in place when you take out a mortgage.
An adviser who can help you arrange a mortgage. The Society welcomes applications from applicants whether directly or through a mortgage broker.
A rate of interest set by the Bank of England, which tracker mortgages and standard variable rate mortgages usually follow.
The Bank of England Base Rate is set by the Bank of England.
If you go into arrears, it means you have ‘defaulted’ at least once on your mortgage repayments, i.e. you have missed a month’s payment. Contact us as soon as possible if you think you may go into arrears. If you are applying for a mortgage and have been in arrears previously, it is important that […]
APRC stands for the Annual Percentage Rate of Charge used to compare loan offers.