Mortgages are one of the main products on offer at the Beverly Building Society. The society has one main type of mortgage for first time buyers and existing homeowners looking to switch to another deal or move house.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Beverly Building Society is one of the oldest building societies in the UK. It was founded in 1866, in the Yorkshire town of Beverly, and today the society remains one of the most prominent financial institutions in the area. Beverly Building Society only has one branch. They did have a second branch in the nearby town of Pocklington for a while, but this closed in 2011.
The people of Beverly traditionally turned to the Beverly BS when they wanted to open a savings account or buy a home, but although the society is still an important fixture in the local community, their products are now marketed all over the UK and customers don’t need to be resident in Beverly to buy from them.
The standard Beverly BS mortgage deal is a straightforward variable rate product. Customers can choose a discount scheme for two or three years. Discounts will vary according to the amount borrowed and the value of the property. Once the discounted period has ended, interest rates will revert back to the standard variable rate.
Beverly BS mortgage customers have the opportunity to take advantage of an offset mortgage facility. An offset facility is a good choice for customers with savings - a mortgage is linked to a savings account so that any savings the customer has are offset against the balance of their mortgage. This means that interest is only paid on the difference and considerable savings can be made.
Overpayments up to a maximum of 10% of the mortgage balance can be made on a Beverly BS mortgage. Charges may apply if extra repayments are made during the discount period.
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