Key Features

• This product is available for house purchase only
• The minimum loan amount is £30,000 and the maximum loan amount is £400,000
• The maximum loan to value is 95%
• An early repayment charge will be payable if the mortgage is redeemed within the first two years. The early repayment charge will be equivalent to 2% of the capital repaid less the permitted 10% overpayment allowance in the first year and 1% of the capital balance repaid less the permitted 10% overpayment allowance in the second year. Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. Any amount repaid over the 10% limit will incur an early repayment charge of 2% on the excess amount in year 1 and 1% on the excess amount in year 2.

Fees 

• Valuation Fee – Variable. Payable on application. Not refundable once the valuation has been carried out.
• Higher Lending Charge – Variable.  Applicable if you borrow over 80% of the value of the property. This will be paid by us.
• Mortgage exit fee – £50.00. Payable upon redemption of the mortgage.

Where any part of the loan is arranged on an interest only basis, the interest only element must not exceed 50% LTV.  A suitable repayment vehicle sufficient to cover the interest only part of the loan needs to be in place.

This product may be withdrawn without notice.

Representative Example

A mortgage of £193,919 payable over 22 years on our discounted rate for 2 years at 1.95% below the Society’s current variable rate, making the current rate payable 5.79% (variable), and then on our current variable rate of 7.74% (variable) for the remaining 20 years would require 24 monthly payments of £1,300.66 and 240 monthly payments of £1,515.03 plus one initial interest payment of £461.42 The total amount payable would be £395,885.18 made up of the loan amount plus interest (£201,556.18) a valuation fee of £360 and a mortgage exit fee of £50.

The overall cost for comparison is 7.6% APRC representative.

This representative example assumes a mortgage completion date on the 15th day of a calendar month.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from Penrith Building Society.  They are not specific to your circumstances. For a Mortgage Illustration, which takes into account your specific circumstances please contact us directly using the button below.

Find a Broker Contact us

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Key Features

• This scheme is available on new purchases only.
• The minimum loan amount is £30,000.
• The maximum loan amount is £750,000.
• The maximum loan to value is 80%.
• An early repayment charge will be payable if the mortgage is redeemed within the first two years. The early repayment charge will be equivalent to 2% of the capital repaid less the permitted 10% overpayment allowance in the first year and 1% of the capital balance repaid less the permitted 10% overpayment allowance in the second year. Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. Any amount repaid over the 10% limit will incur an early repayment charge of 2% on the excess amount in year 1 and 1% on the excess amount in year 2.
• Where any part of the loan is arranged on an interest only basis, the interest only element must not exceed 50% LTV.  A suitable repayment vehicle sufficient to cover the interest only part of the loan needs to be in place.
• This product may be withdrawn without notice.

Fees

• Valuation Fee – Variable. Payable on application. Not refundable once the valuation has been carried out.
• Mortgage exit fee – £50.00. Payable upon redemption of the mortgage.

Representative Example

A mortgage of £193,919 payable over 22 years on our discounted rate for 2 years at 2.25% below the Society’s current variable rate, making the current rate payable 5.49% (variable), and then on our current variable rate of 7.74% (variable) for the remaining 20 years would require 24 monthly payments of £1,266.82 and 240 monthly payments of £1,512.20 plus one initial interest payment of £437.51. The total amount payable would be £394,369.26 made up of the loan amount plus interest (£200,040.26) a valuation fee of £360 and a mortgage exit fee of £50.

The overall cost for comparison is 7.6% APRC representative.

This representative example assumes a mortgage completion date on the 15th day of a calendar month.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from Penrith Building Society.  They are not specific to your circumstances. For a Mortgage Illustration, which takes into account your specific circumstances please contact us directly using the button below.

Find a Broker Contact us

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Key Features

• Available for purchase and remortgage.
• The minimum loan amount is £30,000.00.
• The maximum loan amount is £750,000.00 for loan to value up to 75% and £450,000.00 for 90% loan to value.
• The maximum loan to value is 90%.
• Where any part of the loan is arranged on an interest only basis, the interest only element must not exceed 50% LTV.  A suitable repayment vehicle sufficient to cover the interest only part of the loan needs to be in place.
• This product may be withdrawn without notice.

Fees

• Product Fee – £500.   Payable in advance. Refundable prior to completion. Can be added to loan as long as the maximum loan to value is not exceeded
• Valuation Fee – Variable.  Payable on application.  Not refundable once the valuation has been carried out.
• Higher Lending Charge – Variable.  Applicable if you borrow over 80% of the value of the property. This will be paid by us.
• Mortgage exit fee – £50.00.  Payable upon redemption of the mortgage.

Representative Example

A mortgage of £42,500 payable over 8 years on our variable rate at our current rate of 7.74% (variable) would require 96 monthly payments of £595.21, plus one initial interest payment of £135.18.

The total amount payable would be £58,420.08 made up of the loan amount plus interest (£14,785.08) and a product fee of £500, a valuation fee of £585 and a mortgage exit fee of £50.

The overall cost for comparison is 8.9% APRC representative.

This representative example assumes a mortgage completion date on the 15th day of a calendar month.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from Penrith Building Society.  They are not specific to your circumstances. For a Mortgage Illustration, which takes into account your specific circumstances please contact us directly using the button below.

Find a Broker Contact us

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Key Features

• This scheme is available on new purchases only.
• The minimum loan amount is £30,000.
• The maximum loan amount is £500,000.
• The maximum loan to value is 90%.
• An early repayment charge will be payable if the mortgage is redeemed within the first two years. The early repayment charge will be equivalent to 2% of the capital repaid less the permitted 10% overpayment allowance in the first year and 1% of the capital repaid less the permitted 10% overpayment allowance in the second year. Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. Any amount repaid over the 10% limit will incur an early repayment charge of 2% on the excess amount in year 1 and 1% on the excess amount in year 2.
• Where any part of the loan is arranged on an interest only basis, the interest only element must not exceed 50% LTV.  A suitable repayment vehicle sufficient to cover the interest only part of the loan needs to be in place.This product may be withdrawn without notice.

Fees

• Product Fee. £799. Payable in advance. Refundable prior to completion. Can be added to loan as long as the maximum loan to value is not exceeded
• Valuation Fee – Variable. Payable on application. Not refundable once the valuation has been carried out.
• Higher Lending Charge – Variable. Applicable if you borrow over 80% of the value of the property. This will be paid by us.
• Mortgage exit fee – £50. Payable upon redemption of the mortgage.

Representative Example

A mortgage of £123,000 payable over 25 years on our discounted rate for 2 years at 2.25% below the Society’s current variable rate, making the current rate payable 5.49% (variable), and then on our current variable rate of 7.74% (variable) for the remaining 23 years would require 24 monthly payments of £754.59 and 276 monthly payments of £917.78 plus one initial interest payment of £277.51. The total amount payable would be £272,973.64 made up of the loan amount plus interest (£148,874.64) a product fee of £799, a valuation fee of £250 and a mortgage exit fee of £50.

The overall cost for comparison is 7.7% APRC representative.

This representative example assumes a mortgage completion date on the 15th day of a calendar month.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from Penrith Building Society.  They are not specific to your circumstances. For a Mortgage Illustration, which takes into account your specific circumstances please contact us directly using the button below.

Find a Broker Contact us

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.