Compare Progressive Building Society mortgages
If you are buying a property in Northern Ireland the Progressive Building Society have a range of different mortgage products that may suit you, depending on your specific borrowing requirements and personal circumstances.
First Time Buyer mortgages
If you are looking at buying your first home, you may be able to borrow up to 90% of its value with the Progressive Building Society. You may also qualify for a discount rate or fixed rate mortgage which can make your borrowing cheaper and/or your repayments more predictable for an introductory period.
Some lenders are not keen to offer mortgages to self-builders as this can be seen as riskier than normal lending. The Progressive Building Society are one of those that offer specific self-build mortgages, however, with the money released in stages as the build progresses.
Remortgaging with the Progressive Building Society
Transferring your mortgage can be an attractive option if you are not happy with the amount you are currently paying back or need to increase your borrowing. You may be able to borrow up to 80% of your property’s market value with the Progressive Building Society, allowing you to get a better interest rate or be left with a spare lump sum once your old mortgage is paid off.
Second charge mortgages
A second charge mortgage can allow you to increase your secured borrowing without having to change your existing mortgage. This can be the cheaper option if you already have a good deal on your existing mortgage. Some lenders will allow you to take your combined borrowing up to as much as 90% of your property’s value with a second charge mortgage.
Loan to value ratio
When comparing mortgage products, how much you will actually be able to borrow is one of the most important considerations. This is partly down to your income, but also depends on the loan to value (LTV) ratio lenders are willing to offer on their different types of mortgages.
A mortgage product’s LTV is the maximum percentage of a property’s value you will be able to borrow with that particular mortgage. So, if the max LTV is 70% and you are looking at a property worth £100,000, you will be able to borrow up to £70,000. It will be up to you to fund the balance with your deposit.
Find the best deals on mortgage rates
Using our mortgage calculator it is much faster and easier to find top deals on mortgages from all the leading lenders. All you need to do is head to the top of the page and share some basic details, including the amount you wish to borrow and how long you want to repay over. The calculator will then match you with leading deals from across the market that match your requirements. This then gives you a good range of options to look at before deciding on which offers you the best value.