Chorley District Building Society

The Chorley District Building Society in Lancashire was set up on the 7th March 1859 and at that time was called The Chorley Permanent Benefit Building Society. Its purposes was to aid mill workers with purchasing homes of their own. On the 6th February 1933 its name changed to the familiar Chorley District Building Society.

The Chorley District Building Society is the oldest building society in the county of Lancashire and is the 46th biggest in the UK having over 37,000 members and assets amounting to £177 million. It has three branches of which two are in Chorley at Key House, Foxhole Road, Chorley PR7 1NZ (this is their Head Office) and their High Street branch
 at 28-30 High St, Chorley
PR7 1DW and their Leyland Branch at 153-155 Towngate, Leyland PR25 2LH.

The Chorley District Building Society has a variety of mortgages available. When applying the society requires you to supply them with the following information:

  • Three of your last wage slips
  • Personal bank statements for the previous three months
  • Two types of identification
  • Information about any outstanding credit you may have
  • If you have a mortgage then a statement of this

Should you be self-employed then you will have to supply the following information:

  • Audited accounts for the last three years
  • Personal and business bank statements for the previous three months
  • Two types of identification
  • Information about any outstanding credit you may have
  • If you have a mortgage then a statement of this

The titles given by the Chorley District Building Society to their mortgages which are on offer and available to all cliental are:

Standard Variable Rate Issue SVR – Full Term Discount Issue 335 (Residential) – 3 Year Discount Issue 349 (Remortgage Only)

Here is an example of one of the Chorley District Building Society mortgage:

Standard Variable Rate Issue SVR

  • The variable rate of interest currently is 5.49%
  • The maximum LV (Loan to Value) is 90% for a new loan and 75% capital raising as well as debt consolidation
  • The maximum amount that can be borrowed for multiple incomes is four times a single income and 3.5 times joint incomes.
    • Interest is calculated on a daily basis
    • There are no product charges
    • The maximum term is 40 years
    • The maximum loan available is £1000000
    • The minimum loan available is £5,000
    • This sort of mortgage is not available to anyone under the age of 18 years or over 75 years of age
    • There are no early repayment charges
    • It is possible, should you move, to transfer this mortgage

The titles given by the Chorley District Building Society to their mortgages which are on offer and available to existing cliental are:

Full Term 1% Discount Issue 336 (yearly interest) - Standard Variable Rate Issue SVR (yearly interest) - Standard Variable Rate Issue SVR (daily interest) - 3 Year 3.49% Discount Issue 347 (yearly interest) - 3 Year 3.49% Discount Issue 347 (daily interest) - 2 Year 3.99% Discount Issue 348 (yearly interest) - 2 Year 3.99% Discount Issue 348 (daily interest)

Here is an example of one of the Chorley District Building Society mortgage

Full Term 1% Discount Issue 336 (yearly interest)

  • The variable rate of interest currently is 4.49%
  • The maximum LV (Loan to Value) does not apply
  • The maximum amount that can be borrowed for multiple income does not apply
  • There is a maximum term of 40 years
    • Interest is calculated on annually
    • The interest rate charged has been lowered under the Chorley District Building Societies SVR by 1.00% for the duration of the mortgage and this rate will not drop under 3.25%.
    • The product charges are 2% for two years
    • There is no minimum or maximum loan advance
    • This sort of mortgage is not available to anyone under the age of 18 years or over 75 years of age
    • A transfer fee of £50 applies
    • Overpayments are permitted up to 10% of the original loan per year and will not incur an early repayment fee.
    • An early repayment fee will apply should the mortgage be repaid in full or by an amount greater than the 10% allowance during the two years from finalization that will be equal to 2% of the transferred loan.
    • It is possible should you move to transfer this mortgage

The Chorley District Building Society likes to give professional services to their clients and have a very good variety of products and services available.