You can repay lump sums over and above your minimum monthly repayment without any early repayment charge of up to 10% of your capital balance each year. Your capital balance is calculated when you take out your mortgage at at each anniversary.  Full details will be found in your Mortgage Illustration (ESIS)

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.

A mortgage of £140,792 payable over 34 years on our fixed rate for 2 years at 5.49% and then on our current variable rate of 7.74% (variable) for the remaining 32 years would require 24 monthly payments of £762.55  and 384 monthly payments of £970.99  plus one initial interest payment of £317.65.  The total amount payable would be £393,435.98 made up of the loan amount plus interest (£251,344.98) a valuation fee of £250, a product fee of £999 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

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

You can repay lump sums over and above your minimum monthly repayment without any early repayment charge of up to 10% of your capital balance each year. Your capital balance is calculated when you take out your mortgage at at each anniversary.  Full details will be found in your Mortgage Illustration (ESIS).

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.

A mortgage of £227,514 payable over 28 years on our fixed rate for 2 years at 5.99% and then on our current variable rate of 7.74% (variable) for the remaining 26 years  would require 24 monthly payments of £1,313.24  and 312 monthly payments of £1,640.66  plus one initial interest payment of £503.96.  The total amount payable would be £545,835.52 made up of the loan amount plus interest (£316,962.52) a valuation fee of £310, a product fee of £999 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 circmstances 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.

Key Features

• The minimum loan amount is £30,000.00.
• The maximum loan amount is £500,000.00.
• The maximum loan to value is 50% on interest only / 80% on capital repayment.
• Part Repayment / Part Interest Only mortgages available.
• An early repayment charge will be payable if the mortgage is redeemed within the first three years. The early repayment charge will be equivalent to 2% of the capital repaid in years 1 and 2 and 1% of the capital repaid in year 3, less the permitted 10% overpayment allowance. 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 in years 1 and 2 and 1% on the excess in year 3.
• Available for properties where a proportion of the main property or a separate dwelling, for example an annexe, will be let out. Holiday let and residential tenancies are acceptable. Long-term leases, licences and commercial letting are not acceptable. At no point can the full property be rented out and at least 40% of the overall floor area must be used as a residential dwelling on an owner occupancy basis. Houses of Multiple Occupancy (HMOs) are not acceptable.
• Satisfactory buildings insurance (including public liability cover) must be arranged, and evidence provided to the Society, confirming that the insurer is aware that elements of the property will be occupied on a holiday let / tenanted basis.
• 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 strategy sufficient to cover the interest only part of the loan needs to be in place.

The 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.
• Mortgage exit fee – £50. Payable upon redemption of the mortgage.

Representative Example

A mortgage of £196,904 payable over 17 years and 5 months on our discounted rate for 3 years at 1.75% below the Society’s current variable rate, making the current rate payable 5.99% (variable), and then on our current variable rate of 7.74% (variable) for the remaining 14 years and 5 months would require 36 monthly payments of £1,519.65 and 173 monthly payments of £1,689.63 plus one initial interest payment of £484.71.

The total amount payable would be £348,807.90 made up of the loan amount plus interest (£150,694.90) and a product fee of £799, a valuation of £360 and a mortgage exit fee of £50

The overall cost for comparison is 7.5% 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.