Vernon BS Mortgages
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Vernon Building Society Mortgages FAQ
Who are Vernon Building Society?
The Vernon Building Society, based in Stockport, is an independent building society. Founded in 1924, they are the only local building society active in Stockport and East Cheshire. The society doesn’t stop there though - it also serves customers across the length and breadth of the UK.
They provide a range of financial products including mortgages, savings and insurance plans.
What type of mortgages does the Vernon Building Society offer?
Vernon Building Society offer a range of mortgages for different circumstances, when you’re looking to buy a home, for those looking to remortgage to a new deal, first-time buyers attempting to step onto the property ladder and those wanting to become a landlord.
Here are their current mortgage products:
- Buy for uni mortgages
- Buy to let mortgages
- Discount mortgages
- Fixed rate mortgages
- Offset mortgages
- Retirement mortgages
- Self-build mortgages
As you can see, they provide common and specialist mortgages, with a range to suit almost any buyer.
What interest rates are available on their mortgages?
As with all mortgage providers, Vernon Building Society interest rates vary with each mortgage product they offer. You can see the interest rates currently available on each of their products above in our mortgage comparison table, and on their website.
Using our comparison table, you can filter results by interest rate, so you can view rates from low to high. You can also arrange mortgages by their annual percentage rate of charge (APRC), which helps you compare different mortgages costs over the course of their terms.
Do interest rates change during a mortgage term?
Yes, the interest rate on a mortgage will vary provided you stick with it for the agreed term. If you take out a fixed rate mortgage, you guarantee that the rate stays the same for a set term (usually 2 or 5 years). If you don’t want your mortgage rate to increase when this period ends — your rate will usually revert to the lender’s standard variable rate — you might want to start looking to transfer to a new fixed rate mortgage with the same interest rate. Try to give yourself about three months to find and transfer onto a new fixed rate deal.
With variable and tracker rate mortgages, the two other main types of mortgage your rate can change at any time. This means it could rise or fall, and when it’s lower, you benefit from a smaller monthly repayment. These types of mortgages are best suited to those with savings, because you’ll need to be able to cover the increased monthly repayment if interest rates rise.
Services offered by this provider may change over time. Always check Ts&Cs.
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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