Website: Britannia
Phone: 0800 013 1140
Britannia is a mutual society, and offers good value and a benefits and rewards package to an audience of remortgagers and first time buyers. A Britannia mortgage is not ideal for bad credit cases, but for good borrowers this is an essential part of your mortgage search. Special self-build mortgages for housebuilders.
Britannia is one of the dying breed of mutual societies; whose value goes entirely to its members and not shareholders, so you'd expect improved rates here. This primarily takes the form of a loyalty bonus after two years of up to £500 every year you remain with your Britannia mortgage.
You also get some interesting options. For starters, whatever mortgage you get, you will receive Homebuyers Cost Protection Insurance- covering up to £775 of costs should your house purchase fall through. Nice touch.
If a flexible offset mortgage sound too complicated, they offer a Savings Mortgage which works in a similar way but does not require you to move your credit cards or savings accounts to Britannia. There's also a unique mortgage package for self-builders, so if you want a mortgage for what is currently an empty plot of land, you can fund the building and even buy the land with a specially designed package.
There's also some flexibility even with standard mortgages- for example you can choose to pay a higher rate in exchange for a waiver of fees. The Britannia mortgage offering is innovative and value-led, and should not be left out of your search!
