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About Swansea Building Society?

The Swansea Building Society is a building society based in Swansea, Wales. They are a regional building society covering Wales and England that was established in 1923.

The Society’s objective is to provide loans secured on residential property, particularly in the South Wales area, funded by personal savings deposited in a variety of savings accounts offered by the Society.

The Society is one of only three remaining mutual Building Societies in Wales and the only Building Society or Bank with its headquarters in West Wales.

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What mortgages do Swansea Building Society specialise in?

The building society manually underwrites all of their mortgages instead of using a computer to credit score. This means they may be able to be more flexible than high street banks on their criteria.

Swansea Building Society believe in a personal, tailored, and common-sense approach to residential and buy to let lending, their range includes:

Residential mortgages

Buy to let Mortgages

House recently mortgaged with Swansea Building Society

Are Swansea Building Society mortgage rates competitive?

Swansea Building Society aim to offer competitive mortgages to their target customers.

It is important to review the whole market to decide if their rates are competitive. An independent mortgage advisor can access the whole market, including intermediary only-lenders.

You should also review your current and future situation to decide if the mortgage with Swansea suitable. It’s important to check the initial interest rate, revert rate, fees charged, flexibility of the product and so on.

Can I change my rate with Swansea Building Society?

If you are an existing customer of Swansea 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 either transferring your rate or help you remortgage 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 long does it take to get an offer with Swansea Building Society?

The average time it takes to get a mortgage from Swansea Building Society if normally around four weeks. However, this can vary on a case-by-case basis and the duration may be extended for more complicated deals, for example, due to bad credit, a non-standard property type, or complex self-employed income.

If you have been declined by Swansea Building Society, you may still be able to get a mortgage

If you’ve been declined a mortgage from Swansea Building Society, you should initially find out the reason why, then 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 lenders criteria, which 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 know more about your credit profile you can utilise either Experian, Equifax, Transunion or Check My File, which offers a free trial.

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Conclusion

The Swansea Building Society is a regional building society based in Swansea, Wales that was established in 1923.

The building society manually underwrites all of their mortgages instead of using a computer to credit score. This means they can be more flexible than high street banks on their criteria.

The society aims to offer competitive mortgage rates to its target customers and specialises in a range of different mortgage products including self-employed mortgages, Green mortgages, guarantor mortgages, high income mortgages, interest only mortgages, lending into retirement, and mortgages for medical professionals and other professionals.

The average time it takes to get a mortgage from Swansea Building Society if normally around four weeks. However, this can vary on a case-by-case basis and the duration may be extended for more complicated deals, for example, due to bad credit, a non-standard property type, or complex self-employed income.

If you have been declined by Swansea Building Society, you may still be able to get a mortgage by speaking to an expert mortgage advisor who can assess your situation and find another lender willing to give you a mortgage.

Should you want to speak to a mortgage advisor to review your situation, please complete the contact box below, and I NEED ADVICE will find you with a mortgage advisor who can recommend the right mortgage for you.

Please note, although the information on this page is correct at the time of writing, lenders change their policy on a regular basis so please use it as a guide only.

To find out up to date information about lenders and mortgage advice in general, contact a qualified mortgage adviser.

The information on this page is not tailored to any individual readers and should not be considered financial advice under any circumstances.

If you are seeking advice about a mortgage, you should consult a qualified professional.

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Why match with a mortgage advisor?

Experienced

They are experienced, which can boost your chances of being approved.

Guide you

They can guide you through the whole mortgage process.

Access the whole market

They are able to access the whole market, including broker exclusive products.

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Tell us what you need, and we’ll do the rest.

Our matching service is completely free, and there is zero obligation to proceed with the advice.

By completing this form, you agree to be contacted by I NEED ADVICE about your mortgage enquiry.

Advisers are authorised and regulated by the FCA

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The matching process

How I NEED ADVICE works

Our service is simple, fast, and tailored to you.

Tell us about your situation

Answer a few quick questions about your needs, financial history, and goals. It only takes a couple of minutes.

We’ll match you with an adviser

We find an expert mortgage adviser who specialises in your situation from our curated panel.

Speak to your adviser

Your adviser will contact you to discuss your options, answer your questions, and guide you towards the right mortgage.

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Mortgage Calculators

How much can I borrow?

You could borrow

To buy a property worth

Please note, this is only a guide on how much you can borrow. For a more precise estimate, we recommend consulting with one of our specialists.

How much will you need to repay monthly?

It’s important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors.

Mortgage type

Your monthly payment could be: £ – –

Real success stories

What our customers say

“We struggled to make sense of the products available to us in the market on our own. Being put in touch with someone who could understand our circumstances was a huge help. Highly recommended.”

Wayne

Alton, Hampshire

“I was really happy with the mortgage advisor I was matched with. He was very helpful and explained things clearly.”

Tom

Woking, Surrey

“The person I spoke to got in touch quickly and was able to work out an option for me which I didn’t think I had. Recommended.”

Scott

Selkirk

“My mortgage broker has been really helpful, always responsive. Recommended.”

Alastair

Weybridge, Surrey

“Really useful service, very knowledgeable broker, clearly explained my options.”

Charlotte

Addlestone, Surrey

“Received a call back very quickly from a friendly advisor who explained my options. Very happy with the service.”

Shannon

Leatherhead, Surrey

FAQ

Frequently asked questions

What is a mortgage?

A mortgage is a loan that is used to purchase a home. The loan is secured by the home, and the borrower makes payments on the loan over time.

How much can I borrow mortgage?

The amount you can borrow for a mortgage will depend on a number of factors, including your income, your debt-to-income ratio, your credit score, your deposit amount and the value of the home you are purchasing.

How do mortgages work?

A mortgage is a loan that is used to purchase a property. The loan is secured against the property, which means that if you do not keep up your repayments, the lender can recall the loan and take repossession of the property.

How to get a mortgage?

To get a mortgage, you’ll need to prove to a lender that you’re a good candidate for a loan. This will involve providing documentation of your income, employment history, and assets. A mortgage broker may be best suited to help you.

What is a mortgage in principle?

A mortgage in principle is a document that states that a lender is willing to give you a mortgage up to a certain amount, based on your financial information (subject to full underwriting). It involves a credit check and expires after a period. Estate agents often ask for this when you make an offer on a property to demonstrate you are proceedable.

Does a mortgage in principle affect your credit score?

This depends on the lender and whether they complete a hard or soft footprint on your credit file. A mortgage broker will be able to confirm this prior to applying.

How long does a mortgage application take?

A mortgage application can take anywhere from a few days to a few weeks. The amount of time it takes depends on the lender, your situation, and the type of mortgage being applied for.

What is a mortgage advisor?

A mortgage advisor is a professional who helps people get mortgages, or loans to buy property. They work with both the borrower and the lender to find the best possible mortgage deal, and then help the borrower through the application process.

How does our broker-matching service work?

Our mortgage broker-matching service is free for you to use. We will pair you up with a qualified advisor for your needs and circumstances and set up a free consultation between you and them. There will be no obligation to take things further and your credit report won’t be affected.

What does a mortgage advisor do?

A mortgage advisor is a professional who can assist you with securing a mortgage. They will provide you with advice on which product to choose, help you to find the most suitable mortgage lender and assist you with the application process.

When should you speak to a mortgage broker?

A mortgage broker should be contacted as soon as you are ready to start the home-buying process or approaching the time to remortgage.

What should I know before speaking to a mortgage advisor?

If you are thinking about speaking with a mortgage advisor, it is important to know what you need. This includes knowing what type of home you are looking to purchase, your credit score, your income and your employment history. It is also important to have an idea of what type of mortgage you are looking for, as this will help the advisor understand your needs and find the best options for you.

What to ask a mortgage broker?

When speaking to a mortgage broker, you should ask questions such as:

  • What is the best mortgage for my situation?
  • What are the current interest rates?
  • What are the fees associated with this mortgage?
  • What is the term of the mortgage?
  • What is the minimum deposit required?
  • What is the maximum amount I can borrow?
  • What is the monthly payment?
  • What is the early repayment charge?
How do mortgage brokers get paid?

Mortgage brokers are typically paid either a flat fee or a percentage fee for each loan they originate. Some brokers may also receive a fee from the lender.

Can mortgage brokers get you a bigger mortgage?

Mortgage brokers can often get you a bigger mortgage than you could get on your own, because they have access to a larger pool of lenders and are more likely to know which lender can offer the most in your situation.

Is a mortgage broker better than a bank?

Some people prefer working with mortgage brokers because they offer more personalised service and may have access to a wider range of mortgage products. Some people prefer dealing directly with their bank, however you are limited to just their products and criteria.

Who are the mortgage lenders in the UK?

There are over 100 mortgage lenders in the UK. Below is a list of some of these lenders.

  • Accord Mortgages
  • Ahli United Bank
  • Aldermore Bank
  • Arbuthnot Latham
  • Bank of China
  • Bank of Ireland
  • Barclays
  • Bath Building Society
  • Beverley Building Society
  • Bluestone
  • BM Solutions
  • Brown Shipley Private Bank
  • Buckinghamshire Building Society
  • Cambridge Building Society
  • Central Trust
  • Chorley BS
  • CHL Mortgages
  • Clydesdale Bank plc
  • Coutts & Co
  • Coventry Building Society
  • Cumberland Building Society
  • Cynergy Bank
  • Darlington Building Society
  • Digital Mortgages
  • Dudley Building Society
  • Earl Shilton Building Society
  • Ecology Building Society
  • EFG Private Bank Limited
  • Fairbairn Private Bank
  • Family Building Society
  • Fleet Mortgages
  • Foundation Home Loans
  • Furness
  • Godiva Mortgages
  • Halifax PLC
  • Handelsbanken
  • Hanley Economic
  • Harpenden Building Society
  • Hinckley & Rugby Building Society
  • Hodge Lifetime
  • HSBC
  • HSBC (Private Bank)
  • InterBay Commercial
  • Investec Bank (Channel Islands)
  • Investec Specialist Bank
  • Kensington
  • Kent Reliance
  • Keystone
  • Kleinwort Hambros
  • Landbay
  • Leeds Building Society
  • Leek United Building Society
  • LendInvest
  • Livemore Capital
  • Loughborough Building Society
  • Mansfield Building Society
  • Market Harborough
  • Marsden Building Society
  • Melton Mowbray
  • Metro Bank
  • Molo Finance
  • Monmouthshire Building Society
  • MPowered Mortgages
  • Nationwide Building Society
  • NatWest
  • NatWest International
  • Ned Bank
  • Newbury Building Society
  • Newcastle Direct
  • Nottingham Building Society
  • Paragon Mortgages
  • Penrith Building Society
  • Pepper Homeloans
  • Platform Home Loans
  • Post Office Mortgages
  • Precise Mortgages
  • Principality
  • Saffron Building Society
  • Santander
  • Scottish BS
  • Scottish Widows Bank PLC
  • Shawbrook Bank
  • Shepshed Building Society
  • Skipton Building Society
  • Stafford Railway BS
  • State Bank of India
  • Suffolk Building Society
  • Swansea Building Society
  • Teachers BS
  • The Mortgage Lender
  • The Mortgage Works
  • Tipton & Coseley
  • Together
  • TSB
  • UBS Private Bank
  • Vernon BS
  • Vida Homeloans
  • Virgin Money
  • Weatherbys Private Bank
  • West Bromwich Building Society
  • Zephyr Homeloans
Aren’t mortgage brokers all the same?

Mortgage brokers are not all the same. The mortgage brokers we work with have different specialties such as buy-to-let investments, self-employed customers, and bad credit mortgages.

Is it cheaper to use a mortgage broker?

A mortgage broker can save you money by shopping around for the best mortgage rate, but you may have to pay the broker’s fees.

What is a buy to let mortgage?

A buy to let mortgage is a mortgage that is specifically for people who are looking to purchase a property in order to rent it out. These mortgages typically have higher interest rates and require a larger deposit than a regular mortgage.

Is it worth getting a mortgage advisor?

It is important to seek independent advice when applying for a mortgage, as this can often lead to getting a much better value deal. This could save you a significant amount of money over the course of the mortgage.

If I match with advisors through I NEED ADVICE, where are the advisors located?

The advisers that you are matched with through I NEED ADVICE are telephone based advisors so could be anywhere in the UK.

When I match with mortgage advisors through I NEED ADVICE, are the mortgage advisors qualified?

Yes, we only match you with mortgage advisors that are qualified and holding the correct permissions.

Would I have to spend money to find out my mortgage options?

No, a mortgage advisor that we match you with will be able to tell you what your options are before any money is spent paying the mortgage advisor for chargeable work.

Will a mortgage advisor that I match with through I NEED ADVICE definitely be able to help us?

Whether a mortgage advisor can help you is down to your individual situation, but they will try their best to assist you.

Is the matching service through I NEED ADVICE free of charge?

I NEED ADVICE do not charge you for matching you with a mortgage advisor. Your mortgage adviser would disclose any fees payable for your transaction should you go ahead.

Does I NEED ADVICE work with advisors that can arrange home insurance?

If you need advice about home insurance, we can match you with an advisor that can give this to you.

I have adverse credit, can you help?

If you have adverse credit, I NEED ADVICE can match you with a mortgage advisor that specialises in bad credit mortgages in order to help you.

I need general financial advice, can you match me with a financial advisor?

If you need general financial advice, we will be able to match you with a financial advisor that can tell you your options.

I don’t plan to buy at the moment but would like to know what I can afford in the future, could you still offer guidance?

We can match you with a mortgage advisor that can give you the guidance that you need so you know what options are available to you in the future.

Can the mortgage advisors that I match with communicate through Teams meetings or Zoom meetings?

If you feel that you would prefer a Teams meeting or Zoom meeting, we can match you with a mortgage advisor that can accommodate this.

What tools do mortgage advisors have access to?

Mortgage advisors have access to various tools in order to help you. These tools consist of affordability calculators, mortgage sourcing systems, and mortgage criteria systems.

How do I find out my credit profile?

You can learn more about your credit profile and credit score by going to check my file.

I need advice about wealth planning, can I NEED ADVICE match me with a financial advisor that can help?

I NEED ADVICE can match you with an advisor specialising in wealth planning to give you your options.

If I go ahead with a mortgage advisor that I match with through I NEED ADVICE, what is the cost?

The cost will depend on the situation, however your adviser will advise the cost in advance before you incur any fees.