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Manchester Building Society

This North Midlands Building Society was established in 1922, it is still based in Manchester Town Centre and remains a mutual society, so unlike Banks it does not have to pay dividends to shareholders and can use any profits for the benefit of all Society members. There are a variety of home loan products available including fixed rate, buy to let and specialist mortgages. You can borrow to buy your first home, second home, improve your current home or move from another lender.

Buy to let mortgages are available at a three year fixed rate and may cover up to 70% of the property's value. You are allowed to invest in up to four properties including any you may have with other lenders.

Self employed customers must provide at least 2 years full accounts as well as bank statements that cover the 3 months prior to the mortgage application. For some products you may need to be over the age of 21 and borrow a minimum of £50,000.

Early repayment charges will apply if you pay off all or part of your mortgage during any discount or fixed rate period.

 

Manchester Building Society Mortgage Products

Fixed rate mortgages: You can apply for a mortgage that gives you a fixed interest rate for the agreed period and guarantees that your mortgage repayments will remain the same even if the Standard Variable Rate or Bank of England Base Rate changes. Once the fixed rate has ended you will pay a discounted rate for the rest of the mortgage period.

Buy to let mortgages: You can borrow up to 70% of the property value and can apply for a fixed rate mortgage to ensure that you know exactly how much you will have to pay each month. After the agreed fixed period you will switch to the Society's Managed Rate Scheme. Early repayment charges will apply throughout the period of the loan and during the first three years this will be 3% of the outstanding balance.

Specialist mortgages: if you have had any financial and mortgage difficulties in the past then you may be able to apply for a fixed rate mortgage from Manchester Building Society, first time buyers, existing homeowners who would like to move to a new lender and customers looking to re-mortgage for home improvements can all apply for these products.

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