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Chelsea Building Society can only accept applications for the purchase or re-mortgage of your main residence. Portability/Additional lending/Transfer of Equity applications must also be secured on, and in relation to, your main residence.
Mortgage applications for the purchase of a property for a student/dependent relative or as a second home/pied a terre, Holiday home or Buy to Let property are not acceptable.
Any lending is based on the current value of the property or estimated future value of the property. You should also be aware that at least one applicant must have owned and lived in the property to be re-mortgaged for a minimum of 6 months before the date of your application.
We will require a solicitor to act for us for all remortgage applications.
The following purposes are acceptable for remortgage applications:
We may require a solicitor to act on our behalf, depending on the purpose of the loan.
Additional Loans can be used for any of the following:
We always require security for a mortgage loan in the form of a first legal charge over the customer’s property.
Properties located in England, Wales, Scotland and Northern Ireland are acceptable.
Properties located in the following areas cannot be accepted:
Freehold, Commonhold, Heritable and Leasehold properties are acceptable.
For leasehold properties the following must apply:
We will use any ground rent or service charges you will have to pay in relation to a leasehold/heritable property in our affordability assessment. We will need to see either sales particulars, a letter from the estate agent, bank statement (for remortgages) or, a solicitor's letter as proof of the monthly payment.
The following property types are unacceptable:
Use our simple calculator tools to work out how much your repayments could be, how much we could lend to you and if an Offset mortgage could save you money.