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Loughborough Building Society

The Loughborough Building Society was established in 1867 - the head office is still based in the centre Loughborough and now has assets of over £227m. The Society has recently been awarded the Mortgage Financial Gazette 2010 Winner of 'Best Local Building Society'.

You can choose to apply for a fixed rate, discount rate, standard rate or buy to let mortgage. The maximum LTV for residential purchases is 90% dependent upon your personal circumstances and the product that is best for you, ask your mortgage advisor for more information about the mortgages that may be most suitable for you. You can apply if you are purchasing or re-mortgaging a property in England or Wales. If you are applying for a Buy to Let mortgage then the maximum about you may be able to borrow is 70% of the property's value.

An early re-payment charge will apply if you pay off all or part of your mortgage before the end of the fixed or discount rate period. Some products can be moved to a new property if you decide to move home before the end of the offer period.

 

Loughborough Building Society Mortgage Products

Discount mortgages: You can apply for a discount rate mortgage and benefit from reduced monthly repayments for the agreed term, at the end of this time you will switch to the Society's Standard Variable Rate. The minimum loan amount is £25,000 and the maximum is £350,000. Valuation Fees may be refunded upon completion.

Fixed rate mortgages: If you arrange this mortgage product then you will have the security of knowing exactly how much your monthly repayments will be for the agreed term. You can apply to fix your interest rate for 2 or 3 years and at the end of this time you will switch to the Society's Standard Variable Rate.

Buy to Let mortgages: You can apply for a discounted mortgage for up to two years, so if the Society's Standard Variable Rate increases or decreases you will still receive a discount on the new rate. At the end of the agreed period you will change to the Standard Variable Rate. You can borrow up to 70% of the property's value and this can be for a new purchase or a re-mortgage. Rental income must be expected to exceed 130% of the monthly repayments.

If you are interested in a mortgage quotation including those offered by Loughborough Building Society please complete our quick enquiry form.