Stafford Railway BS Mortgages

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Last updated on 22 March 2021.

Stafford Railway Building Society Mortgages FAQ

Who are Stafford Railway Building Society?

Established in 1877, Stafford Railway Building Society was formed by a small group of railway workers from the London and Northwestern Railway Company.

Today the building society offers a portfolio of mortgage and savings accounts and friendly customer service.

What paperwork do I need to apply for a mortgage with Stafford Railway Building Society?

Mortgage providers, including Stafford Railway Building Society, will need to see proof of your income and identity. For employees this could be your payslips and bank statements, while self-employed people should look out their SA302s as part of their mortgage application.

How long will the mortgage application process take?

It typically takes three weeks for a mortgage offer to be made after the application is received. This is an industry average but it should give you a guide for things with Stafford Railway as well.

If moving quickly is important to you, make sure you have all the necessary documents to hand to streamline the process.

To ensure the application process progresses promptly, you will need your last three months’ payslips and P60. For self-employed applicants, you will need to provide evidence of accounts from the past three years.

How much can I borrow from Stafford Railway Building Society on my mortgage?

How much you can borrow from Stafford Railway will depend on what type of mortgage you are looking to apply for, the property you want to buy and your own personal financial circumstances.

For residential mortgages, it’s worth checking out some online mortgage affordability calculators. This will roughly help you work out how much you can borrow, based on your monthly income and fixed outgoings.

What interest rates does Stafford Railway Building Society charge?

The interest rates charged by Stafford Railway Building Society are charged on a variable rate, meaning that your repayments could increase or decrease.

It is important to note that, because of this variable rate, the interest rate on your mortgage is not capped or fixed for a certain period. Despite this, Stafford Railway Building Society have a policy in place to keep the variable rate and repayments as low as possible.

You should be notified of any changes to your mortgage interest rate prior to the end of the term.

I’m looking to pay off my mortgage early. Will Stafford Railway Building Society charge me a fee?

Many people find that their financial situations change over time and some find themselves in the position of being able to make early repayments on their mortgage.

Stafford Railway Building Society offer a specific early-repayment mortgage which is charge-free. Through this, you will not be charged an early repayment fee on any overpayments made on the mortgage.

This differs somewhat from the Early Repayment Charges (ERCs) you will often find applied to mortgages when you repay over a set overpayment limit annually. To find out more about the eligibility for this mortgage, speak to the Stafford Railway Building Society mortgage team.

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

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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