Penrith Building Society Mortgages

View all the mortgages from the Penrith Building Society. View their range of products from fixed and variable rate deals, tracker mortgages and mortgages especially for first time buyers. See how they compare against other lenders using our mortgage comparison tools.


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About Penrith Building Society Mortgages

Penrith Building Society provides a range of simple savings accounts for adults and juniors, mortgages, and insurance protection. The original society was created to help local people buy their own home and have a safe place to keep their savings. Not much has changed and these days the Penrith Building Society is still a mutual, non-profit organisation that strives to help members of the community save money and take out mortgages. The Penrith Building Society is a big part of the local community. It supports local charities and community groups, from music clubs and sporting clubs, to vintage rallies and the local mountain rescue team.

Penrith Building Society offers two main types of mortgage: repayment and interest only. Once a customer has chosen the type of mortgage they want, they can select the mortgage deal that best suits their personal circumstances.

There are plenty of Penrith BS mortgages to choose from, including standard variable rate, discounted, and buy to let mortgages. The society also provides a few speciality mortgages. The customer must use solicitors nominated by the society. Penrith BS mortgages for landlords can only be used to purchase properties. Buy to let mortgages can be repaid early with no fees incurred.

The products include first home-purchase, Shared ownership purchase, second home mortgage, 2 years fixed and discounted purchase, standard variable rate and interest only mortgage, with LTVs ranging from 50% to 90%. The mortgage types include fixed rate, variable rate and discounted variable rate mortgages.

With Interest-only mortgages it is the borrower’s responsibility to ensure there is sufficient capital to repay the mortgage at the end of the agreed term. It is possible to combine both repayment and interest only mortgages if desired.

Buy to Let and Commercial Mortgages are available only in Cumbria. The maximum percentage the Society will advance is 75% of the value of the property and in buy-to-let cases the maximum loan to value (LTV) is 70% and for pure commercial property is 50%.

The Core Features of Penrith Building Society Mortgages

  • Application fee, product fee and legal fees are all paid by the society
  • Fixed and tracker rates available
  • Guarantor BTL
  • Top-slicing to aid BTL affordability
  • Holiday-let mortgages
  • Generous ‘new build’ LTVs

How does it work?

The Society looks at two things in deciding how much it will lend – the property and the applicant. In all cases, the affordability of the applicant is looked at. The Penrith has online submission for residential applications and paper based for buy to let. Once application is submitted, assessed and approved, the Society provides a written quotation based on your own individual circumstances on request.

The Final Advice

Penrith Building Society Mortgages are good deals if you need mortgages early in time, with competitive rates, and you have good credit score.