Building Society Mortgages
Looking for the best building societies for your mortgages?
- Find a mortgage that’s right for you
- Connect with UK-based mortgage lenders
- Compare mortgages from a range of different lenders
Looking for the Best Building Society for Mortgages?
Are building societies better than banks for mortgages?
Building societies are “owned” by their customers, making them a trusted option for rates which banks, being profit-driven, can’t always compete with.
Are building societies good for mortgages?
Not only do building societies offer excellent rates, they’ve been working hard to compete with the High Street banks, resulting in very attractive mortgage packages for customers.
An area where building societies offer particularly competitive deals is where the potential borrower only has a smaller deposit. On two and five year fixed rate 90% mortgages, building societies not only match, but also beat the introductory rates offered by the leading banks. A building society mortgage may therefore be the perfect option for a [first time buyer](https://www.quotezone.co.uk/home-insurance).
Do all building societies offer mortgages?
Some only offer financial products to locals. Luckily, though, many do offer their services to all locations in Great Britain.
Still, be sure to check out you local building society as they may offer tailored mortgage deals for you as a local.
My mortgage application was rejected by a bank. Will I get the same response from a building society?
Not necessarily. Building societies can follow a different route when it comes to assessing your finances, taking a broader view of your finances rather than extracting key pieces of information as a bank does.
For that reason, if you’ve been refused a mortgage by a bank but feel you could financially handle the repayments, a building society is a very good place to try next.
What is the best building society for mortgages according to customers?
If you’ve only ever had financial dealings with a bank, you may feel uncertain of what to expect with a building society. Finding one which rates highly with customers can be reassuring.
What type of mortgages are offered by a building societies?
Helpfully, most building societies offer the styles of mortgages we’re used to seeing in banks, including:
- Fixed rate mortgages – which guarantee you’ll pay the same amount each month for an agreed period.
- Interest only mortgages – where you only pay the interest on your borrowed sum.
- Capital and interest mortgages – where you pay interest and a percentage of the capital each month, allowing you to put equity back into your property.
- Offset mortgages – which allow you to use your savings to reduce the interest you pay.
If you’re ready to find a new mortgage, compare the best building societies for mortgages now.