General Mortgage Information

Beverley Building Society offers mortgages within England and Wales for the purpose of purchasing, re-mortgaging, re-mortgaging including capital raising and providing further funding for home improvements secured against a residential property on a first charge basis. Beverley Building Society offers a range of different types of mortgages listed below. There may be times when a specific type of mortgage is not offered. A list of our current mortgage deals is available on our mortgage products page.

The interest rate is represented as a discount off Beverley Building Society’s current standard variable rate for a certain period of time. These rates can go up as well as down over the period of the loan and although you may start off with a low rate you need to ensure your monthly budget allows for variation in your mortgage payment. (This type of mortgage has no link with The Bank of England Base Rate).

Where the interest rate is determined by the Beverley Building Society. These rates can go up as well as down over the period of the loan and you need to ensure your monthly budget allows for variation in your mortgage payment. (This type of mortgage has no link with The Bank of England Base Rate).

Where the interest rate goes up and down in line with the Bank of England Base Rate. The pay rate may be a specific rate above or below the Bank of England Base Rate. You may start off with a lower rate but are not guaranteed that this won’t increase in the future.

Beverley Building Society offers mortgages on a Capital and Interest (Repayment) basis, an Interest Only basis and a combination of both Repayment & Interest Only. Mortgage customers who choose Interest only as a repayment option have the responsibility to ensure the capital is repaid at the end of the loan. These customers are advised to regularly check the performance of any investment that is to be used as a repayment vehicle. Mortgage payments are to be made on a monthly basis by direct debit over the specified mortgage term.

• Beverley Building Society does not provide Foreign Currency mortgages
• Beverley Building Society only lends on residential properties in England and Wales
• Beverley Building Society provides mortgages with a minimum term of 5 year and a maximum term of up to 40 years

You may incur additional charges that may not be included in the total cost of the mortgage in the representative example below.

In some circumstances compliance with the terms and conditions of the MCD regulated mortgage contract might not ensure repayment of the total amount of credit.

All mortgage approvals are subject to the property having a mortgage valuation carried out on behalf of Beverley Building Society. Depending on the mortgage product on offer at the time of application, a fee may be payable.

There are no compulsory insurances that have to be taken out through Beverley Building Society however buildings insurance must be in place prior to completion of the mortgage and continued throughout the term of the mortgage.

Further information about Beverley Building Society’s mortgage products and facilities, including individual representative example can be found on the mortgage pages of the website, as well further information can be found in branch at Beverley Building Society, 57 Market Place, Beverley, HU17 8AA.

Tel: 01482 881510