Chorley Building Society is a Lancashire-based mutual with roots going as far back as 1859. Offering independent advice from qualified mortgage advisors, it provides a personal service to help you find a mortgage that’s the right fit for your financial needs. Chorley Building Society’s product range includes special offers on mortgages restricted to the local Chorley area.
Overall representative example If you borrow £178,000 mortgage over 25 years initially at 4.49% fixed for 60 months reverting to 7.99% variable for term. 60 monthly payments of £988.37 and 240 monthly payments of £1306.89. Total amount payable £373,335.80 includes loan amount, interest of £194,956, valuation fees of £0 and product fees of £0. The overall cost for comparison is 6.7% APRC representative.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
What types of mortgages can I get with Chorley Building Society?
Discount Your interest rate will remain locked a specific percentage below the lender’s standard variable rate (SVR) for a set amount of time (up to five years). After your discount period ends, you’ll be switched onto the SVR.
Remortgages You can switch your existing mortgage to Chorley Building Society via one of its remortgage products.
Variable rate Your interest rate will shift up and down based on various economic conditions.
Buy-to-let You need a buy-to-let mortgage to borrow money to buy an additional property and let it out.
95% LTV Some Chorley Building Society mortgages allow you to buy a property while only putting down 5% of the property’s value as a mortgage deposit.
How to apply
You can arrange an appointment with the lender’s mortgage experts by calling 01257 235001 or visiting a local branch.
What information is needed to apply?
You’ll need to provide proof of identification, your most recent P60, your last three months of payslips (or two years of SA302’s if self-employed), and proof of deposit.
Eligibility criteria
You’ll need to be at least 18 years old to apply for a standard mortgage, 21 for a 95% LTV mortgage or 25 for a buy-to-let mortgage. You won’t be lent more than 4.5 times your annual income. Applicants with CCJs, defaults, bankruptcies will not be accepted.
Frequently asked questions
The smallest mortgage offered by Chorley is £50,000. The biggest, on the other hand, is £1,000,000.
The minimum term for a mortgage is 1 year, while the maximum is 40 years.
As a borrower from Chorley BS, you can make repayments as capital and interest or interest only.
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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
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