Founded in Newcastle in 1863, Universal has over 140 years of experience in assisting people to buy their homes. They have branches and agencies all through the North East, Northumberland, Durham, Cumbria and the Borders. The society has helped thousands of home-buyers. Universal provide the right advice at the right time, backed by the right products.

The Society has plenty of customers who have been members for many years and they therefore value the trust and loyalty that comes from these relationships. That’s why Universal are committed to remaining a mutual society.

If you’re buying your first home, looking to move home, switching your existing mortgage from another lender or simply looking to borrow extra money for home improvement, Universal Building Society will guide you through every step the process, all the way. At Universal they understand that these are often among the most significant lifetime decisions people will make.

How Much Can I Borrow?

As a rule of thumb, if you decide to buy a property alone you can borrow 3.25 times your total annual income. However, if you are buying with someone else or if you already own a property this figure will change.

Universal offer the following types of mortgages:

Home improvement loans
Re-mortgages
Cashback mortgage
Flexible mortgage
Base rate tracker mortgage
Variable rate mortgage
Capped rate mortgage
Fixed rate mortgage
Discounted rate mortgage

Repaying Your Mortgage: you can choose between an interest only repayment, where you pay just the interest on the loan, or pay the interest and use a separate financial product to invest for paying off the mortgage in the future, like Pension plan for example.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT MAINTAIN YOUR MORTGAGE REPAYMENTS.