The Cheshire Building Society was set up in 1870 in Macclesfield. It has undergone 13 mergers, the first being in 1969 when it merged with the Northwich Building Society. During the 1970s and 1980s there were a succession of mergers smaller in nature.  In December 2008 it was adopted by the `Nationwide Building Society but before this merger its assets amounted to £5.0 billion. Cheshire Building Society is a member of the Building Societies Association (BSA), which is an association for the United Kingdom building societies and represents joint lenders and depositors in the UK which encompass the 48 UK building societies and whose assets amount to £365 billion. 

There are 49 branches of the Cheshire Building Society which stretch all over the North West. Whilst it is characteristically placed, it runs throughout the United Kingdom with its Internet and broker sales.

Being part of the Nationwide they have a great choice of mortgages on offer.

• There are no hidden fees
• For Nationwide main FlexAccount customers they offer entry to the 90% LTV (Loan to Value) mortgages
• There is freedom to over or underpay – this applies to the conditions of the individual mortgage

There are a few mortgages that provide

• No standard legal conveyancing, this covers the fees related to the buying of a property when taking advantage of LMS – Legal Marketing Services but does not cover the expense of the searches undertaken by a conveyancer and these could be payable even if the deal is uncompleted.
• There is no HVR (Homeowner Valuation Report) fees
• There are no product fees

Fixed Rate Mortgages

Here is an example of what’s available for a £60,000 loan on a property with a value of £400,000:

• For a TWO year fixed rate mortgage the initial rate of interest presently would be 2.64%
• Increasing to the SMR which is presently 3.99%
• Fees that are payable are £499
• Early repayment charges apply for overpayments by £500 each month or if you leave your agreement before time
• Monthly payments would be of £273.41

• For a THREE year fixed rate mortgage the initial rate of interest presently would be 3.04%
• Increasing to the SMR which is presently 3.99%
• Fees that are payable are £99
• Early repayment charges apply for overpayments by £500 each month or if you leave your agreement before time
• Monthly payments would be of £285.77

• For a FIVE year fixed rate mortgage the initial rate of interest presently would be 2.89%
• Increasing to the SMR which is presently 3.99%
• Fees that are payable are £99
• Early repayment charges apply for overpayments by £500 each month or if you leave your agreement before time
• Monthly payments would be of £313.06

Tracker mortgages

An example of their tracker mortgage for a £60,000 loan on a property with a value of £400,000 is as follows:

• For a TWO year tracker rate mortgage the base rate differential is +1.94%
• The initial rate of interest presently would be 2.44%
• Increasing to the SMR which is presently 3.99%
• Fees that are payable are £499
• Early repayment charges apply for overpayments by £500 each month or if you leave your agreement before time
• Monthly payments would be of £267.36

Flexible Mortgages

An example of their flexible mortgage for a £60,000 loan on a property with a value of £400,000 is as follows:

• For FIVE flexible rate mortgage the base rate differential is +2.25%
• The initial rate of interest presently would be 2.75%
• Increasing to the SMR which is presently 3.99%
• Fees that are payable are £99
• Early repayment charges apply for overpayments by £500 each month or if you leave your agreement before time
• No early repayment fee, permitting limitless overpayments and penalty fee changeover
• Monthly payments would be of £276.78

The above examples are the same as on offer from the Nationwide as the Cheshire Building Society mortgages are from the Nationwide and are dealt with by the Nationwide rather than at a local branch of the Cheshire Building Society.