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There are over 100 mortgage lenders in the UK including Vernon Building Society. Mortgage Lender .co.uk will help you make the right choice.
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Vernon Building Society
This Independent Society was founded in 1924 and is still a mutual building society, providing mortgages, investment and saving products for the local community. There are now seven branches in the Stockport area, is the only remaining local building society and has over £250million pounds of assets.
In addition to the products outlined below this society offers
- Flexible Mortgages
- Flexi-Fit Mortgages
- Commercial and Buy-to-Let Mortgages
plus an Equity Release Lifetime Mortgage that is ideal for over 65's who would like to release some of the equity in their home. Depending upon your age you can release up to 40% of your home's value, this can be paid as one lump sum, staged lump sums or even as a monthly income. Your mortgage broker will be able to advise you on the implications and benefits of this scheme.
Vernon Building Society Mortgage Products
First Time Buyer Mortgage: Only available to customers who live within a 25 mile radius of Stockport, you can take a loan of up to 90% if you are borrowing less than £200,000 or 85% if you borrow up to £250,000. The Standard Variable Rate will be charged for the first two years and a discount will then apply for the following three years before you revert to the Standard Variable Rate. You can make lump sum overpayments throughout the term of the loan with no extra charges although full repayment will incur a penalty. An arrangement fee will be due but there may be some help toward legal costs.
Three Year Fixed Rate: This product is available with a no fee option and you can borrow up to 80% of the value of your home. After the three year period there will be no charges for overpayments or early repayment of all or part of the loan. The interest rate you pay will depend upon the deposit you are able to provide.
Three Year Discount Mortgage: Offers a discount from the Standard Variable Rate, loans of up to 80% are available and the discount rate will depend upon the amount of deposit you provide. There are no penalties for lump sum payments toward the outstanding balance during the discount period but full repayment will incur a charge.
If you are interested in a mortgage quotation including those offered by Vernon Building Society please complete our quick enquiry form.
Vernon Building Society Mortgage Rates
|Mortgage Type||Initial Rate||Subsequent Rate||APR||Max LTV||Fees & Charges||Enquire Now|
|First Time Buyer||4.99% Variable||-0.8% discount from the Standard Rate during years 3,4 and 5||5.1%||90%||£395 refunded upon completion|
|Three Year Fixed Rate||4.79%||4.99% Variable||5.4%||80%||£495 non-refundable Application Fee|
|Three Year Discount||3.49% Variable||4.99% Variable||4.9%||80%||£395 Arrangement Fee|
Speak to a professional about a Vernon Building Society Mortgage