Maximum Loan To Value (LTV)
95%
Initial Interest Rate
5.79%
Follow On Variable Rate until 31.12.2031
7.04%
Standard Variable Rate thereafter
8.29%
Overall Cost for Comparison (APRC)
7.60%
Interest Calculated
Daily
Initial Interest Rate: 5.79% (fixed until 31st December 2027)
Follow on Discounted Rate: 7.04% (1.25% discount from our Standard Variable Rate until 31st December 2031. The discount is subject to a minimum interest rate floor of 2.00%)
This is a limited issue and the Society reserves the right to withdraw this scheme without notice at any time.
Please note this representative example takes into account the reduction in interest rates due to take effect on 24th October 2025.
Standard Variable Rate (8.29% reducing to 8.14%) and Follow on Variable Rate (7.04% reducing to 6.89%). The Representative Example uses the lower Standard Variable Rate of 8.14% and Follow on Variable Rate of 6.89%.
The following is a representative example based on a mortgage of £180,000 payable over 25 years initially on a fixed rate of 5.79% until 31st December 2027, a further discounted rate of 6.89% until 31st December 2031, followed by our Standard Variable Rate of 8.14%. In this example you would make 27 monthly payments of £1,136.75, 48 payments of £1,251.37 and 225 monthly payments of £1,370.01.
The total amount payable would be £400,528.26 made up of the loan amount plus interest of £219,010.26 and the following costs, a Scheme Fee (£1250.00), a Chaps fee (£25.00), a standard Valuation fee (£193) and a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.6% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
North West Property Cashback
£500 cashback will be paid to customers who complete a new mortgage application for a residential property purchase or remortgage in the North West.* For more information click here
*North-West region will include postcode prefixes PR, FY, M, L, WA, LA, BB, SK, OL, CA, CH, BL, SK, CW
Early Repayment Charge
2.50% of the redemption balance until 31st December 2026.
1.50% of the redemption balance from 1st January 2027 until 31st December 2027
Application Fee
There is no Application Fee payable for this product.
Scheme Fee
£999 (can be added to the loan, subject to LTV and lending criteria, or paid on completion. Fees added to the loan will accrue interest.
Further details are available on application).
Mortgage Exit Administration Fee
£50.00 (paid on redemption).
Standard Valuation Fee
Paid directly to valuer by the applicant – see Valuation Fee Scale for details.
A standard mortgage valuation is required on all properties.
Age
Minimum – 21 years
Maximum – 72 years
Term
Minimum – 2 years
Maximum – 40 years
Loan Size
Minimum - £50,000
Maximum - £400,000
Availability
Not available on new build flats.
Available to customers who meet our standard lending criteria. Non-standard products are available.
Some property types and locations are not acceptable, speak to your mortgage advisor for more information.
Overpayments
The Society will allow overpayments of up to 10% of the capital balance per annum without invoking an early repayment charge.
Portability
You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria.
Insurance
Buildings insurance is compulsory in all instances.
At Chorley Building Society, we aim to help you find the mortgage that’s right for you and provide you with the best possible service. Whether looking to purchase a home or remortgage, we are here to help.
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