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Holmesdale Building Society
Holmesdale Building Society
Holmesdale Building Society was founded in 1855. The Holmesdale is a mutual building society and is run for the benefit of its members.
Holmesdale is committed to remaining independent.
Today the Society has assets worth £135m. Despite its steady growth both financially and geographically it still considers itself Reigate’s local building society.
Holmesdale offers the following types of mortgage:
- Discount
- Stepped Discount
- Tracker Mortgages
| Holmesdale Building Society Mortgage Products |
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Discount: your rate is set at a discount off the Society’s standard variable rate for an agreed period. Your initial rate is determined by the length of the discount product you choose. You can choose between 2 and 4 years. After the discount period has finished your rate will revert to the Society’s standard variable rate for the remainder of the mortgage term.
The 2 year scheme has an early repayment charge during the discount period. The 4 year scheme does not have an early repayment charge. You can borrow up to 90% LTV.
Stepped Discount: your rate is set at a stepped discount for 2 years off the Society’s standard variable rate. In year 1 you will pay less than in year 2. After the stepped discount period has finished the mortgage will revert to the Society’s standard variable rate.
There is an early repayment charge during the stepped discount period. You can borrow up to 75% LTV.
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Tracker Mortgages: your rate will be set below the Bank of England Base Rate. Your initial rate is determined by the length of the tracker product you choose. You can choose between 2 and 3 years. After the tracker period has finished your rate will revert to the Society’s standard variable rate for the remainder of the mortgage term.
There is an early repayment charge during the tracker period. You can borrow up to 75% LTV. An arrangement fee is payable.
If you are interested in a mortgage quotation including those offered by the Holmesdale Building Society please complete our quick enquiry form.
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Fee Free re-mortgage scheme: the re-mortgage scheme applicable to residential properties located in Surrey, Sussex, Kent and Hampshire and is fee-free up to a maximum value of £750,000.
Free Legal fees. Free Valuation fees.
Holmesdale offer the following types of re-mortgage:
- Discount
- Stepped Discount
- Tracker Mortgages
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Lifetime Mortgage: a Lifetime Mortgage is a way of "unlocking" the value of your property, to release the equity in your home. Equity is the difference between your mortgage and the value of your home.
Used mostly by older home-owners who have either paid off their mortgage loans altogether, or have only a small amount left to pay.
You can release the equity in your home to give yourself a lump sum.
If you sell the property before you die, you repay the money you borrowed and the remaining equity is yours.
If you live in the property until you die, the money from its sale is used to repay your mortgage before anything left over is paid to your beneficiaries.
It is recommended that anyone who enters into a Lifetime Mortgage scheme should obtain independent legal and financial advice prior to signing any documentation. |
| Current Holmesdale Building Society Mortgage Offers |
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| Holmesdale Building Society Mortgage News |
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