YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
I’m a First Time Buyer
Buying your first property can be both a daunting & exciting prospect. Any home move can be a little stressful, but it’s doubly so when it’s your first time. We know what you’re going through, which is why we take as much of the stress out of the mortgage application process as possible. Our experienced Mortgage Advisors will provide you with plenty of support and guidance throughout your application, meaning that arranging your mortgage is one less thing to worry about.
If you would like more information, give us a call or request an appointment to speak with one of our advisors.
|Products||Prod Code||More Details||Distribution||Initial Rate||Initial Period||Reverts to||App Fee||Product Fee||Free Val?||Fee Assisted Legals?||Max LTV||Min Loan Amount||Max Loan Amount||ERC||Features|
|Eden Mortgage Boost||EMB4||View Details||Direct Only||3.99%||2 Years||SVR||NIL||NIL||Yes||Yes||95%||£30,000||£171,000||2.00% During Disc Period||
|2 Year Discount – Large Loan (Purchase)||P015||View Details||Direct||2.75%||2 Years||SVR||£699||£500||No||No||90% (Cumbria Only) 80% (Outside Cumbria)||£275,001||£750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%)||2.00% During Disc Period||
|2 Year Fixed Rate (Purchase)||P008||View Details||Direct Only & Cumbria Only||2.99%||2 Years||SVR||£199||£800||No||No||90%||£75,000||£250,000||3% During Disc Period||
|2 Year Discount (Purchase)||P014||View Details||Direct||2.75%||2 Years||SVR||£199||£500||No||No||90% (Cumbria Only) 80% (Outside Cumbria)||£30,000||£275,000||2% During Disc Period||
|Shared Ownership (Purchase)||P003||View Details||Direct||2.95%||2 Years||SVR||£199||Nil||No||No||90% of share (Cumbria Only) 80% of share (Outside Cumbria)||£50,000||£250,000||1.80% During Disc Period||
|Standard Variable Rate (Purchase & Remortgage)||SV19||View Details||Direct||4.75%||N/A||N/A||£199||£500||No||No||90% (Cumbria Only) 80% (Outside Cumbria)||£30,000||£750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%)||Yes|
LTV - Loan To Value
SVR - Standard Variable Rate (currently 4.75%)
Fee Assisted Legals - where the product selected includes fee assisted legals, the applicants must use the Society's nominated solicitors.
For loans in excess of 80% LTV, a higher lending charge will be payable. From time to time, the Society may meet this charge for you. Full details will be included within your ESIS Illustration. Where the fee is paid by Penrith Building Society, this will be up to a maximum of £1,500. Where the Higher Lending Charge is more than £1,500, you will be responsible for meeting the sum in excess of £1,500.
Self Build/Rennovation mortgage - 75% on plot / 75% max LTV available throughout the build, payable in arrears. Borrowers are expected to contribute their own funds in advance of mortgage draw down throughout the construction.
On a product by product basis, the Society applies limits to the maximum sum it is prepared to advance. These limits vary, dependent upon the product selected. Please refer to individual product information for further guidance.