The Cambridge Building Society was founded in 1850, today the head office remains in the centre of Cambridge. It has 21 branches in the local area including six branches in Cambridge, one branch in each of the nearby towns including Ely, Huntingdon, Newmarket, Soham, St Ives and St Neots and a further nine branches in surrounding villages. The Cambridge has a strong local focus and offers mortgage facilities throughout East Anglia. Cambridge Building Society is dedicated to remaining a mutual organisation.

Cambridge mortgages are offered on residential properties in East Anglia area. If you are an existing borrower moving outside the East Anglia region, they can still help you buy your new home anywhere in England and Wales.

Cambridge building society has 4 different types of mortgage:

Tracker Mortgages
Fixed Rate Mortgages
First Time Buyer Mortgage
Premier Discount Mortgages

Tracker mortgages: the rate is set according to the Bank of England base rate for the first two years with a small charge added, and determined by the society. The rate will then go back to the Society’s standard variable rate for the remaining mortgage period.

This mortgage is flexible so you can make extra payments without a penalty. However an early repayment fee will apply if you repay the loan in full in the first 2 years.
An application fee applies
You must have a minimum of 20% as a deposit

Fixed Rate mortgages: this is set at a fixed rate for the first 2 years of the mortgage term. The mortgage will then relapse to a variable rate once the fixed period is concluded.

This mortgage is flexible so you can make extra payments without a penalty. However an early repayment charge will apply if you repay the loan (in full) in the first 2 years.
An application fee applies
You must have a minimum of 20% as a deposit

First Time Buyer mortgage: this is set at a discount off the Cambridge standard variable rate for the first year. It then relapses to a variable rate for the rest of the mortgage term.

There is no application fee
There are no early repayment fees
There is no higher lending fee

Premier Discount mortgage: this is a stepped mortgage rate over 3 years. First year is set at a variable discount rate. Second year is higher but still set at a discount rate. Third year, and for the rest of the mortgage term, the rate goes back to the Society’s standard variable rate.

The minimum loan is £80,000
There are no early repayment charges but if a lump sum payment is made it could effect your discount