Progressive
Building Society Mortgage Providers / Lenders
Progressive
Building Society Mortgage Providers / Lenders
Buying
a house is likely to be the biggest financial transaction
of your life and shouldn't be entered into lightly. Finding
the right house in the right place at the right price may
take some time but the effort is well worthwhile.
Since
1914 the Progressive Building Society has held firm to the
principle that whatever happens elsewhere there should always
be money for local people to buy their own homes. So today
the Progressive is proud to offer you a unique Mortgage Service
combining flexibility and promptness with a minimum of red
tape plus the assurance that each application is dealt with
on its own merits.
How
much can I borrow from the Progressive Building Society?
Normally the Progressive Building Society advance up to 3.25
times your income or in the case of joint applications, three
times the major income plus one time the smaller. There is
an added proviso that this figure must not exceed 95% of the
purchase price or the property valuation. However, each application
will be considered individually taking all relevant factors
into consideration. When you need a mortgage of 90% of the
property's valuation or more they require additional security
in the form of an insurance guarantee which they shall arrange.
What
sort of mortgage do the Progressive Building Society offer?
The
Progressive Building Society can offer you a Repayment or
Interest-Only mortgage. They have a range of attractive schemes
which will meet the needs of all those considering house purchase
or improvement.
What
costs are involved?
In
addition to the initial deposit there are other costs such
as legal and valuation fees, removal costs and stamp duty
on purchases over £60,000. Your local Progressive branch
will be happy to guide you through the costs of a house purchase.
Should
I employ an independent surveyor?
Progressive
Building Society will arrange a valuation for mortgage purposes
and this will highlight major defects. If you are in any doubt
about the soundness of the property or about the reasonableness
of the price a more detailed survey, although more expensive,
may be very valuable. Progressive Building Society will be
happy to advise you on the alternatives available.
Borrowing
with Protection
When the Progressive Building Society offer you a mortgage
on your house they insure it against fire and other risks.
They also offer a special scheme to insure your home and contents
under one policy. No one can ever be completely sure what
tomorrow will bring. That's why they offer Repayment Protection
Insurance to ensure peace of mind for you should unemployment,
accident or sickness strike. The premiums for this added protection
may be included in your monthly repayments.
Your
Next Step
For
more detailed information on the Progressive Building Society
Mortgage Service just call into your nearest branch and see
for yourself the difference a local building society run by
local people can make.
Written
details of credit terms are available on request. A life assurance
policy may be required.
YOUR
HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE
OR OTHER LOAN SECURED ON IT.
For
further information on a Progressive Building Society Mortgage
visit the Progressive Building Society Website.
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