Cambridge Building Society Mortgages

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Last updated on 09 March 2021.

Cambridge Building Society Mortgages FAQ

Who are Cambridge Building Society?

Cambridge Building Society is a mutual building society based in Cambridge. They are authorised by the Prudential Regulation Authority, regulated by the Financial Conduct Authority and a member of the Building Societies Association. They have been in operation since 1850 and have provided funding and savings facilities for those looking to buy their own homes ever since.

What mortgages are available from the Cambridge Building Society?

The society offers a range of mortgages which can include:

  • First-time buyer mortgages
  • Buy-to-let mortgages
  • Shared ownership mortgages
  • Retirement interest only mortgages
  • Remortgages

What interest rates are available on their mortgages?

The current interest rates available on their mortgages are presented above in our mortgage comparison table.

We update our table daily to ensure it reflects the society’s current rates.

When comparing mortgages, it is important to compare interest rates using the annual percentage rate of charge measure (APRC). This measure is the annual cost of a mortgage across its term and is calculated as if you will complete the mortgage term without changing your deal.

What is Cambridge Building Society’s lending criteria?

When applying for mortgages, it’s worth knowing that each mortgage provider has a different set of lending criteria. This is effectively all the conditions you’ll have to meet in order to be successful in your mortgage application for a particular mortgage product.

Before applying for a mortgage, you’ll be able to assess the provider’s lending criteria in order to know if you’re likely to be accepted.

If you apply for a mortgage where you don’t fit the lending criteria, you could be rejected, which might delay your move into your new home.

What are shared ownership mortgages?

Shared ownership is part of the Help to Buy government affordable housing programme. Shared ownership is also known as part buy – part rent, as it describes how shared ownership works.

As a shared ownership property buyer you’ll purchase a share of a home, usually between 25% and 75%. You’ll take out a mortgage on the share that you purchase, and affordable rent on the share the housing association owns.

What are retirement interest only mortgages?

Retirement interest only mortgages are a relatively new addition to the mortgage market. They are designed to assist older borrowers to take out a mortgage in later life, appealing to those who may struggle to be accepted on the terms of a standard mortgage.

The way they work is that a homeowner borrows capital against their property. Each month, they will be required to pay back only the interest accrued on the capital, rather than the capital itself. Instead, the capital is repaid when the borrower dies, enters into long-term care or sells their home.

Cambridge Building Society reviews – what do their customers say?

Before applying for a mortgage, it’s worth reading the reviews of previous customers. This will help you to understand the experience other members of the society have had with the building society’s mortgage products.

You’ll find a range of reviews with a quick Google search.

Services offered by this provider may change over time. Always check Ts&Cs.

NerdWallet has selected Koodoo to provide you with this information-only online comparison service on a non-advised basis. NerdWallet will receive a share of the commission that Koodoo earns from the lender or from our partnered broker, Fluent Mortgages.

Koodoo is the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978), and is a registered company in England and Wales (company registration number 10978680), with a registered address at Scale Space, 58 Wood Lane, London, W12 7RZ

Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE