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Cumberland Building Society
Cumberland Building Society
Cumberland Building Society has 34 branches in Cumbria, Dumfriesshire, Preston in North Lancashire and Haltwhistle in Northumberland. It employs over 400 staff.
The Cumberland Building Society has grown into the largest Building Society based in Cumbria.
Cumberland lend anywhere in the UK although the amount you can borrow will depend on your location.
It has the following types of mortgage products:
- Fixed Rate
- Discount
- Flexible
| Cumberland Building Society Mortgage Products |
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Fixed Rate: your initial rate will be fixed for an agreed period. Cumberland Building Society have fixed rate products for 3 and 5 years. After the fixed rate period has finished your mortgage will revert to the Cumberland base standard variable rate.
An arrangement fee is applicable. There is and early repayment charge during the fixed rate period.
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Discount: your initial rate will be set at a variable discount off the Society’s base standard variable rate. The discount period lasts 3 years. Your initial rate will also be set according to how much you want to borrow compared to the actual value of the property you want to buy (LTV). After the discount period has finished your mortgage will revert to the Society’s base standard variable rate. An arrangement fee applies.
You will receive free accident, sickness and unemployment insurance for 6 months. There is an early repayment charge during the discount rate period.
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Flexible: your initial rate will be set at a variable discount off the Society’s base standard variable rate. The discount period lasts 3 years. Your initial rate will also be set according to how much you want to borrow compared to the actual value of the property you want to buy(LTV). After the discount period has finished your mortgage will revert to the Society’s base standard variable rate. There are no early repayment charges.
The flexible aspect of the mortgage means that you can make overpayments, underpayments or even take a payment holiday (if you have made enough previous overpayments). You can ask for previous overpayments to be refunded. You can usually borrow more than you might need to when you are buying the property – so you have quicker access to an additional loan facility if you need it later. You may be eligible to receive free accident, sickness and unemployment insurance for 6 months. Interest is calculated daily. There is no arrangement fee.
If you are interested in a mortgage quotation including those offered by The Cumberland Building Society please complete our quick enquiry form.
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The Cumberland Building Society also offers mortgages specifically for people who want to re-mortgage and those who are first time buyers:
Cashback: your rate will be set at the variable Bank of England base rate +1.75% for the first 6 years. After this your mortgage will revert to the Society’s base standard variable rate. You will receive a percentage of your loan as cashback. How much it is will depend on how much you have borrowed in the first place.
You will receive a free legal fees if you use a society nominated Solicitor. You can overpay up to £1,200 a year. You will have to pay an early repayment charge if you repay all of your mortgage within the first 6 years. Interest is calculated daily. Free mortgage protection for 6 months.
Discount: your initial rate will be set at a variable discount off the Society’s base standard variable rate. The discount period lasts 5 years. Your initial rate will also be set according to how much you want to borrow compared to the actual value of the property you want to buy (LTV). After the discount period has finished your mortgage will revert to the Society’s base standard variable rate.
You will receive a free basic valuation. You will receive a free legal fees if you use a society nominated Solicitor. You can overpay up to £1,200 a year. You will have to pay an early repayment charge if you repay all of your mortgage within the first 5 years. Cumberland also have a discount mortgage that has no early repayment charge. |
| Current Cumberland Building Society Mortgage Offers |
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| Cumberland Building Society Mortgage News |
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