Try our Mortgage Challenge
Challenge us to offer you a better mortgage deal than you have with your current lender. Our Mortgage Advisers can find our best mortgage deal to suit your needs and provide you with a no-obligation illustration - so you can then compare the cost of our best deal against your current mortgage.
Interested? Then take our Mortgage Challenge - arrange to talk to one of our Mortgage Advisers today.
Simply contact your local branch or call us on 01223 727727. (Phone lines open 9:00 - 5:00 Monday - Friday.) Alternatively click here to set up a mortgage appointment online.
Switching your mortgage
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Switching your mortgage - 4 simple steps
1 Discuss your mortgage with our expert
Contact the Mortgage Adviser at your local branch of the Cambridge to discuss your requirements. You may wish to borrow extra to carry out home improvements or pay off other loans you have. Our Mortgage Adviser will recommend which of our mortgages will best suit your needs and provide you with a no-obligation personal illustation. If you then wish to proceed, our Mortgage Adviser will help you complete an application form. You will need to pay a £495 administration fee. This fee is not charged if you qualify for Families' Loyalty Bonus.
2 The mortgage application assessment
We shall request a reference from your current lender and contact your employer or accountant to confirm your income. We also need a valuation of your property to assess the security offered for the loan. We will instruct a valuer and pay for the cost of the report. Once our enquiries are complete, we will send you a 'Mortgage Offer' confirming that your loan has been agreed. The Mortgage Offer includes a full illustration of mortgage costs and terms.
3 The legal work
We then instruct our solicitor to act for us to arrange our legal work. We will not charge you for our legal work to arrange the remortgage. Our solicitor will carry out the necessary legal procedures associated with a remortgage, including making the necessary arrangements to repay the loan with your current lender and preparing the new mortgage documents. Our solicitor will not provide you with advice as part of this service.
4 The switch is complete
Your new loan account is set up and the switch is complete - and you start to benefit from your new mortgage deal.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Why switch to the Cambridge?
We aim to provide our borrowers with good value loans over the long term. Our variable rate mortgage has been consistently recognised by consumer magazine 'What Mortgage' and in 2008, we have been awarded 'Best Regional Lender' for the second year running. We provide a full range of mortgages and have a qualified Mortgage Adviser available at every one of our 23 local branches.
Best Regional Building Society
Other fees and charges
Your current lender may charge a fee to discharge your existing loan.
You may have to pay an application fee to reserve funds for our mortgage deals. We currently waive the cost of the fee if you qualify for our Families' Loyalty Bonus.
Legal costs
If you wish to instruct our solicitor to advise you or to carry out any other legal work not normally associated with a remortgage, such as rectifying title defects, transfers of equity, or other legal matters, the solicitor will advise you of the cost and you will be responsible for any fees incurred. You may, if you prefer, instruct your own solicitor to carry out the remortgage legal work and we will pay you £200 towards the costs when your new loan is up and running.
Our lending limits
We will lend up to 80% of the value of your property with our mortgage challenge deal. Before we agree your mortgage we will need to establish that you can afford to meet the monthly payments.