Furness Building Society

Furness Building Society has branches throughout the North West, including Cumbria, Greater Manchester, Lancashire and Merseyside. It is a UK mutual building society with the aim of putting its members first. It offers mortgage deals for first time buyers and re-mortgage seekers. Deals include fixed rate and flexible rate mortgages.

Furness Building Society has no shareholders to pay dividends to. So it can pass on more of the profit it makes in the form of better rates of interest, innovative products and efficient and friendly service. Furness is after all owned by its members, and run for their benefit. Furness Building Society also has an earnest interest in the local community and has been awarded the prestigious CommunityMark for outstanding contribution to local community.

It has 4 main mortgage products to choose from:

• New Start
• Cash Back
• Long Term Discount
• Fixed Rate

New Start: this is in effect a discount mortgage, where the rate is set at the society's standard variable rate less an agreed discount for the first 3 years of the mortgage term. It then goes back to the current standard variable rate for the remaining mortgage period.

• Available if you are a first time buyer, moving home or moving your mortgage
• An early repayment charge applies for the first 3 years
• An arrangement fee is applicable

Cash Back: the rate is set at the society's standard variable rate for the entire life' of the mortgage. 5% of your loan is cash back if you purchase your property, 4% is cash back if you are re-mortgaging.

• No arrangement fee is applicable
• An early repayment charge will apply if you repay all or part of your mortgage in the first 5 years.

Long Term Discount: this is a discount off the Furness's standard variable rate for the life' of the mortgage.

• There are no early repayment charges
• There are flexible benefits, you can make overpayments and underpayments and take payment holidays.

Fixed rate: Furness has fixed rate mortgage products. You mortgage rate will remain fixed for a set period. Due to the large demand the rates are liable to change, however once the mortgage is agreed upon with the society the rate will remain fixed for the set period.

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