Website: Chorley and District
Phone: 01257 419110
The Chorley and District mortgage offering is regularly of best of breed value, clever options like pension mortgages are on offer, and as a mutual society, your fees won't go to shareholders.
A Chorley and District mortgage ought to have low fees, because as a mutual society, they don't have shareholders to pay. There isn't a wide range of mortgages here, partly because as a small lender they have a smaller amount of funds to put on offer at any one time; this also means you may have to apply faster to get approved. But they do have awards under their belt, and what they do offer is good value.
Two particularly interesting products are on offer- equity or cash release mortgages designed to free up cash from your property (specifically for elderly customers) and pension mortgages: where you pay into a pension scheme, which then repays the loan when the scheme matures- this may be hugely tax efficient (10% or more!).
The Chorley is very honest about its fees- and they're very reasonable. New applications are £125, and there's only a small penalty for having your own buildings insurance (£25- this can sometimes be huge with other lenders!)
The Chorley and District mortgage site also includes the obligatory calculators showing how much you could borrow, and how much you can expect to pay.
