Lenders

Holmesdale Building Society – UK Mortgage Lender

The Holmesdale Building Society was founded in 1855 at Reigate in Surrey. It is the 49th largest building society in the UK.

The society has one branch, located in Reigate.

Mortgage Products

Tracker Mortgages: 2 year and 3 year base rate tracker mortgages and remortgages.

Discount Mortgages: 2 year and 4 year discounted rate mortgages and remortgages; 2 year stepped discounted rate mortgages and remortgages.

The Holmesdale Building Society offers both mortgages and savings for members of the building society. As a mutual building society the benefits of any profits go directly back to the borrowers. Many of the borrowers at the society combine their accounts with saving accounts to ensure that they get the full benefit of the society’s offerings.

The Holmesdale offers multiple mortgages that are attached to saving accounts, for example, ISA linked mortgages. This works by making two payments monthly, one that simply pays the interest on the mortgage and the second that pays into an ISA account which is a tax free savings mechanism which will accumulate to offer a large lump sum at the end of the term of the mortgage, enabling the borrower to pay off the same amount of their mortgage capital. There are restrictions to the amount that can be saved into an ISA account and therefore it may not be possible to save the entire capital required to clear the mortgage fully.

Other options include lifetime mortgages and long term discounted mortgages as well as fee free remortgages.

Website: www.holmesdale.org.uk