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Holmesdale Building Society was established in 1855. It is a mutual and independent building society, is run for the benefit of its members. Holmesdale is committed to remaining independent. Today the Society has £135m worth of assets. Despite its steady growth both financially and geographically it still considers itself Reigate's local building society. Holmesdale offers the following types of mortgage:
Discount: your initial rate is set at a discount off the Society's standard variable rate for an agreed interval. this rate is determined by the length of the discount product you choose, where it can be between 2 and 4 years. After the discount period your rate will go back to the Society's standard variable rate for the rest of the mortgage term.
Stepped Discount: your rate is set at a stepped discount for 2 years off the Society's standard variable rate. In the first year you will pay less than what you pay in the second year. After the stepped discount period has concluded the mortgage will go back to the Society's standard variable rate.
Tracker Mortgages: your rate will be set below the Bank of England Base Rate. Your starting rate is determined by the length of the tracker product you choose, which can be between 2 and 3 years. After the tracker period your rate will go back to the Society's standard variable rate for the rest of the mortgage term.
Fee Free re-mortgage scheme: the re-mortgage scheme is applicable to residential properties located in Surrey, Sussex, Kent and Hampshire and is fee-free up to a maximum value of £750,000.
Holmesdale offer the following types of re-mortgage:
Lifetime Mortgage: a Lifetime Mortgage is a way of "unlocking" the value of your property, to release the equity in your home. Equity is the difference between your mortgage and the value of your home
It is recommended that anyone who opts for a Lifetime Mortgage scheme should obtain independent legal and financial advice prior to signing any documentation. If you are interested in a mortgage quotation including those offered by Holmesdale Building Society please fill in our quick enquiry form. |
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