Buildings Insurance
Upon request we can provide you with insurance cover for your property
and/or its contents. Should you decide not to arrange cover for buildings
insurance through the Society, then the Society will need to approve the
policy and be named jointly.
Changes to Terms & Conditions
We will notify you in writing prior to any changes to terms and conditions.
Credit Reference Agencies
If you apply for a mortgage with the Society, we may make searches about
you with credit reference agencies who will supply us with credit information
as well as information from the Electoral Register.
Early Repayment Charges
If you redeem all or part of your mortgage within the first three years, an
Early Repayment Charge will usually apply. If you have different
requirements, please let us know at the outset as we can probably offer
you an alternative option.
Financial Difficulties
A mortgage is a long-term financial commitment and unexpected changes
in personal circumstances could have an adverse effect on your ability to
repay your mortgage loan. Please contact the Society as soon as possible
if you should find that you are in financial difficulties. We will consider
mortgage arrears fairly and endeavour to reach a mutually satisfactory
solution.
Please see our Treating Customers Fairly - Arrears page for more information.
Interest
Interest is charged from the date our mortgage advance is released to the
end of the Society's financial year on the 31st December. Interest is charged
on the balance outstanding at the end of each year and adjusted each time
the interest rate changes. When the interest rate changes on your mortgage
account, we will write and let you know.
Legal Advice
A mortgage is a long-term financial commitment, we
recommend that you take independent legal advice before deciding to proceed
with your mortgage application. The services of a firm of solicitors will be
required when arranging a mortgage on a property. Your solicitors will be able
to confirm their fees upon request.
Marketing Material
From time to time we may send marketing material to our members. If you do
not wish to receive such material in the post, please let us know by either writing
to Head Office or sending an e-mail.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The Society is authorised and regulated by the
Financial Services Authority.
