History

The Cambridge Building Society was original founded in 1850. It is a UK building society that is based in Cambridge, Cambridgeshire, England and is the 23rd largest building society in the UK. Its head office remains in Cambridge and there are 21 branches including 6 branches within Cambridge itself. Other branches are located in Ely, Huntingdon, Newmarket, Soham, St Ives and St Neots and a further nine branches in surrounding villages.

They have had a strong focus on supporting local home ownership and providing a venue for saving money since its inception. They have a strong focus on mortgage lending and have several mortgage facilities throughout East Anglia and within the UK and Wales.

The Cambridge Building Society is an independent, local, mutual society. It aims through responsible administration to offer competitive rates to both savers and borrowers; and to provide market leading service to the community from conveniently situated offices. Offering services through their branches is a critical component of the vision that Cambridge has for their clients. They extended their branch hours to offer more flexibility and convenience to their members.

Recently, they announced the busiest month for mortgage loans in the last six years and are announcing a high profile campaign designed to reassure borrowers that it has plenty of funds available to lend across the board - whether someone is looking for a mortgage to fund a top end property or a starter home.

They pride themselves at taking an individual approach to every application and they want to help potential borrowers to secure their loans - for up to 90% of the value of their property for a mortgage.

Remortgages offered through the Cambridge Building Society

Cambridge building society has these different types of remortgage options:

Tracker mortgages - the rate is set according to the Bank of England base rate plus a small charge determined by the society for the first two years. The rate will then revert to the Society's standard variable rate for the rest of the mortgage term. This mortgage is flexible so you can make extra payments without a penalty. However an early repayment charge will apply if you repay the loan (in full) in the first 2 years. You will be charged an application fee. You must have a minimum of 20% as a deposit.

Fixed Rate mortgages - this is set at a fixed rate for the first 2 years of the mortgage. The mortgage will then revert to a variable rate once the fixed period is over. This mortgage is flexible so you can make extra payments without a penalty. However an early repayment charge will apply if you repay the loan (in full) in the first 2 years. You will be charged an application fee. You must have a minimum of 20% as a deposit.

Premier Discount mortgage - this is a stepped mortgage rate over 3 years. Year 1 is set at a variable discount rate. Year 2 is higher but still set at a discount rate. Year 3, and for the rest of the mortgage term, the rate reverts to the Society's standard variable rate. The minimum loan is £80,000. There are no early repayment charges, but if a lump sum payment is made it could effect your discount.

If you are interested in a mortgage quotation including those offered by the Cambridge Building Society they offer an online enquiry form.