Chesham Building Society

Fixed rate: you can choose from 3 or 5 year fixed rate mortgages. This means that the rate of interest is set for the agreed period. If the market interest rates rise your mortgage rate will not increase. However you should also be aware that if rates fall your rate will remain at the agreed level.

The initial fixed rate of interest will depend upon which fixed mortgage you choose. After the fixed rate period has ended the rate is set according to the current Bank of England base rate plus a percentage determined by the Chesham. There is no early repayment charge after the fixed rate period. An application fee is payable.

Flexible Tracker mortgages: these allow you to make overpayments and, subsequently, underpayments. You can do this by lump sum or regular monthly overpayments and pay your mortgage off early without any early repayment charges. At a later stage you can also choose to take a payment holiday or make underpayments. Flexible Tracker mortgages are linked to the Bank of England base rate. The Chesham also charges a percentage on top of this.

During a period of underpayments or a payment holiday, interest will continue to accrue on the whole debt. Interest is calculated monthly.

Buy to Let mortgages: there are two options offered by the Chesham. They are both Tracker mortgages set according to the Bank of England base rate plus a charge set by the Chesham.

The Flexible Tracker option is a percentage charge above the Bank of England base rate for the ‘life’ of the mortgage.

The 3 year flexible tracker has an initial lower rate charge above the Bank of England base rate. This is for 3 years and then the rate reverts to a higher charge.

As both mortgages are flexible you can choose to make overpayments, underpayments of take payment holidays (if you qualify).

The Chesham also has some special offers for first time buyers:

• You only need a 5% deposit for many of the mortgages.
• You may be able to repay your mortgage over a longer term than the usual maximum 25 years.
• The Chesham will consider extending the term up to 30 years for first time buyers.
• It will take into account your future earning potential and thus help you borrow the amount that you need for your first home.

Re-mortgaging: if you switch your mortgage to The Chesham you could save money on your monthly payments. You can choose from fixed and discounted rate mortgages and also Flexible Tracker Mortgages that track the Bank of England Base (Repo) Rate.

Loans: if you already have a mortgage with the Chesham you could be eligible for a further advance. You can repay this up to the end of your mortgage term.

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