Stafford Railway Building Society was created in 1877 by a small group of railway workers who wanted a means of saving and financing new homes for themselves. Today the Society still operates out of its sole original branch in Stafford and is committed to being mutual. It is still independent and locally managed and has not been engaged in any mergers.

The Society does not offer fixed rate, discount or other mortgages of the like. They offer the interest rate for all borrowers and for loan amount.

The main features of a Stafford mortgage are shown below:

Your actual rate is a standard variable rate.
If you want to borrow above 75% of the value of the property (LTV) then the maximum you will be able to borrow will be 3 times your main income. If there are two people applying the rate will be 2.5 times your joint income.
If you want to borrow 75% LTV or less you can borrow up to 3.5 times your income or 3.5 times your joint income.
Repayments can be made on an interest only or capital repayment basis.
The maximum term is 25 years though for an interest only repayment method the Society may decide on a different term.

The Society also offers Buy to Let mortgages: your interest rate will be set according to who occupies the building, is it a family or a group, like students for example.

Although your income and thus your borrowing capacity is assessed in the same way as a domestic mortgage the Society will also consider other forms of income

The Society may also agree on a commercial mortgage on occasions. Fees are payable.