Mortgage FAQS
What happens at the end of the discounted, capped or fixed rate period?
Your rate will revert to a variable interest rate for the remainder of the term, or we may offer you another product.
What are early repayment charges?
An early repayment charge can sometimes be incurred if part or all of your mortgage is paid off before a pre-agreed date, or moved to another lender. If a charge is applicable it will be explained to you as part of the mortgage application process and full details will be provided in the mortgage documentation.
I have a repayment mortgage, can I change this to an interest only mortgage?
Yes. Please contact our Contact Centre Team on 0845 755 0555 for further information or send a written request to:
Cheshire Building Society – Mortgage & Insurance Team
PO Box 1015
Northampton
NN3 0DJ
I have an interest only mortgage, can I change this to a repayment mortgage?
Yes. Please contact our Contact Centre Team on 0845 755 0555 for further information or send a written request to:
Cheshire Building Society – Mortgage & Insurance Team
PO Box 1015
Northampton
NN3 0DJ
Can I have a further advance added to my mortgage for home improvements?
Please contact our Contact Centre Team on 0845 755 0555.
How does an endowment policy work?
An endowment policy is a type of monthly savings plan that aims to pay off your mortgage at the end of the term (although this may not be guaranteed), or pay off an outstanding mortgage balance in the event of death. An Endowment Policy could be used as a repayment vehicle for an interest only mortgage.
It's important to make sure that the policy will generate enough money to pay off your loan at the end of the term and it is advisable to check how it is performing on a regular basis. The Cheshire cannot take responsibility for the performance of any endowment policy taken out.