In This Article
Who are Newbury Building Society?
Newbury Building Society was established in 1856 and is one of the oldest building societies in the UK.
They offer a range of financial services including savings accounts, mortgages, and insurance products to individuals and businesses in the UK. It is headquartered in Newbury, Berkshire, and has branches across England and Wales.
Newbury Building Society, understand that not everyone fits the typical high-street mortgage criteria. They aim to take a flexible approach to non-standard cases and help you whether you’re a first-time buyer, looking to buy-to-let, or self-employed.
Their underwriting aims to have a common-sense approach with no credit searching but utilising a credit score.
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Residential Mortgages
Newbury Building Society offers fixed, variable and interest-only options for either purchase or remortgages across England and Wales.
They can help a range of customers with the below residential mortgage products:
- First time buyer mortgages
- Self-employed mortgages
- Complex income mortgages
- Contractor mortgages
- Self-build mortgages
- Foreign currency mortgages
- Joint owner-single occupier mortgages
- Split repayment types (Part Interest, Part repayment mortgages)
- Shared Ownership mortgages
- New build mortgages
- Help to buy mortgages
- Lending into retirement
Buy to let mortgages
In addition to residential mortgages Newbury Building society offer buy to let mortgages to new and professional landlords. They offer:
- Standard buy to let mortgages
- Expat mortgages
- Limited company buy to let mortgages
- Regulated / consumer buy to let mortgages
- Holiday let mortgages
- Green buy to let mortgages
Are Newbury Building Society expensive?
Newbury Building Society aim to offer competitive mortgage rates to their customers.
It is important to review the whole market, your current and future situation to decide if the mortgage is competitive and suitable. With any mortgage, it’s important to check the initial interest rate, revert rate, fees charged, flexibility of the product and so on.
A mortgage advisor can do this for you and recommend the most suitable deal for you.
Can I switch my mortgage with Newbury Building Society?
If you are an existing customer of Newbury Building Society and your initial rate is coming to an end, you may be eligible for a product transfer.
An independent mortgage advisor can help you with switching your rate or remortgaging to another lender.
Independent mortgage advisors can advise on all products available in the market and find the best option for you, which may not be staying with your current lender.
How soon would I get a mortgage offer from Newbury Building Society?
The time it takes to get a mortgage offer with Newbury Building Society varies on a case-by-case basis. The average time from mortgage application to offer is generally around four weeks. However, this duration can be extended for more complex deals.
A mortgage broker experienced in working with Newbury Building Society could get a mortgage offer quicker than going direct as they will know what information is required and can chase if the application has stalled.
Newbury Building Society declined me a mortgage, what do I do now?
If you’ve been declined a mortgage from Newbury Building Society, you should speak to a mortgage advisor as they could help you find another lender willing to give you a mortgage.
Expert mortgage advisors get to know which lender is best suited for different situations, situations such as adverse credit, complex income, or any specific criteria about your situation or the property.
If you would like to check your credit profile you can utilise either Experian, Equifax, Transunion or Check My File, which offers a free trial.
Conclusion
Newbury Building Society was established in 1856 and is one of the oldest building societies in the UK.
Newbury Building Society offers a range of financial services including savings accounts, mortgages, and insurance products to individuals and businesses in the UK. It is headquartered in Newbury, Berkshire, and has branches across England and Wales.
Newbury Building Society, understand that not everyone fits the typical high-street mortgage criteria. They aim to take a flexible approach to non-standard cases and help you whether you’re a first-time buyer, looking to buy-to-let, or self-employed.
The building society offers a wide range of mortgage products for customers across England and Wales. They have products suitable for first time buyers, self-employed customers, complex income customers, contractors, self-build customers, foreign currency customers, joint owner-single occupancy customers, split repayment customers, shared ownership customers, new build customers, and more. They also have a number of different buy to let products available.
Their mortgage rates aim to be generally competitive, but you should always consider all products available in the market. Newbury Building Society has a standard mortgage application process that takes an average of four weeks to complete, but this timeframe can vary depending on the complexity of the deal.
If you have been declined a mortgage from Newbury Building Society, an expert mortgage advisor may be able to help you find a lender who is willing to give you a mortgage.
Should you want to speak to an expert mortgage advisor, please complete the contact box, and I NEED ADVICE will arrange for an experienced mortgage advisor to contact you to review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
