The Cheshire launches Family Value mortgage

Cheshire Building Society has introduced a family value mortgage to reward its members and their family for their membership offering £500 off the £999 arrangement fee on its competitive two-year fixed rate mortgage at a rate of 6.49 per cent.

The overall cost for comparison is 7.3 per cent APR. It is only avaiable to Cheshire members and their families, demonstrating the benefits of being a member of the Cheshire in a tangible way.

Available in Cheshire branches only, the 6.49 per cent two-year fixed rate family value mortgage is offered with a maximum loan to value of 90 per cent and three months free mortgage care. The minimum loan for a house purchase or re-mortgage is £25,000, and £30,000 for a first time buyer.

James Taylor, Product Manager for Mortgages at Cheshire Building Society, commented: "The two-year fixed rate family value mortgage is a best buy fixed rate mortgage, with a tangible saving of £500 and provides the reassurance of a fixed repayment for the next two years. It is a great way for the Society to reward its members, helping them to help their families, particularly now as many buyers are struggling to find a good deal.

"Not only do the Cheshire's members and their families benefit from a £500 saving with our two-year fixed rate family value mortgage, but, by taking out a Cheshire Building Society mortgage, they can be confident they are also getting a great value and top quality product. This is proven by our recent Moneyfacts, What Mortgage and Moneywise award wins."

During the two-year fixed rate period, overpayments of £5,000 per 12-month period can be made penalty free. Thereafter, if the mortgage is repaid in full or in part, there is an early repayment charge of five per cent in the first year and four per cent in year two.

The Cheshire's two-year fixed rate family value mortgage is available to members aged 18 or over. For further information or a free consultation, call into any Cheshire Building Society branch.