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

First Time Buyer

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.

ProductsProd CodeMore DetailsDistributionInitial RateInitial PeriodReverts toApp FeeProduct FeeFree Val?Fee Assisted Legals?Max LTVMin Loan AmountMax Loan AmountERCFeatures
Eden Mortgage BoostEMB4View DetailsDirect Only3.99%2 YearsSVRNILNILYesYes95%£30,000£171,0002.00% During Disc Period

  • Overpayments up to 10% of the outstanding loan per year.
  • For owner occupation only.
  • This scheme is NOT portable.
  • Applicant(s) must meet criteria.
  • HLC paid by Eden District Council.
  • 2 Year Discount – Large Loan (Purchase)P018View DetailsDirect2.99%2 YearsSVR£699£500NoNo90% (Cumbria Only) 80% (Outside Cumbria)£275,001£750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%)1.76% During Disc Period

     

    • A discount of 1.76% off the Society’s SVR for 2 years, initial rate payable 2.99%. The rate payable will not go below a floor rate of 2% during the discounted period.

     

    • Overpayments up to 10% of the outstanding loan per year

     

    • Portable

     

    2 Year Fixed Rate (Purchase)P020View DetailsDirect Only & Cumbria Only3.49%2 YearsSVR£199£800NoNo90%£75,000£250,0003% During Disc Period

     

    • Overpayments up to 10% of the outstanding loan per year

     

    • Portable
    2 Year Discount (Purchase)P017View DetailsDirect2.99%2 YearsSVR£199£500NoNo90% (Cumbria Only) 80% (Outside Cumbria)£30,000£275,0001.76% During Disc Period

     

    • A discount of 1.76% off the Society’s SVR for 2 years, initial rate payable 2.99%. The rate payable will not go below a floor rate of 2% during the discounted period.

     

    • Overpayments up to 10% of the outstanding loan per year

     

    • Portable

     

    Shared Ownership (Purchase)P019View DetailsDirect3.19%2 YearsSVR£199NilNoNo90% of share (Cumbria Only) 80% of share (Outside Cumbria)£50,000£250,0001.56% During Disc Period
    • A discount of 1.56% off the Society’s SVR for 2 years, initial rate payable 3.19%. The rate payable will not go below a floor rate of 2% during the discounted period.
    • Overpayments up to 10% of the outstanding loan per year
    • Portable
    Standard Variable Rate (Purchase & Remortgage)SV19View DetailsDirect4.75%N/AN/A£199£500NoNo90% (Cumbria Only) 80% (Outside Cumbria)£30,000£750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%)Yes

    None
    (If HLC paid by Society, then this is repayable if loan redeemed within first 2 years)

    NOTES

    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.
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