Current Mortgage Products and Rates

For mortgages on properties outside the Society’s local area (i.e. Cumbria), the maximum loan to value is 75%.

At the present time the maximum loan that the Society will consider within the local area is 90% of the value of the property. You should contact the Society to ascertain the maximum loan to value ratio available in any particular case.

With effect from 01/04/2009 the Society’s current standard variable rate is 4.15%. (Typical overall rate for comparison 4.3%)

If the property offered for mortgage is not for owner occupation you should contact the Society by telephone for an initial discussion regarding your requirements.

Discounts or incentives may be granted for mortgages on owner occupied properties under the following schemes:

2 YEAR DISCOUNT SCHEME

This scheme is available to all borrowers throughout England, Scotland and Wales purchasing or remortgaging owner occupied fully residential property.

The Society will give a discount of 1.5% from its standard variable rate for a period of 2 years from the release of the initial advance. At current rates the initial rate charged will be 2.65% increasing to 4.15% on the second anniversary of the loan. (Typical overall rate for comparison 4.0%).

The maximum loan is 75% of the value or purchase price of the property whichever is lower. The minimum loan is £30,000.

Any redemption, capital repayment or overpayment made to the mortgage within the period of the discount will be subject to an early repayment charge of 1.5% of the capital balance outstanding in the case of redemption or 1.5% of the amount of the capital repayment or overpayment. After the initial two year period the mortgage may be redeemed or capital repayments or overpayments made without penalty.

3 YEAR DISCOUNT SCHEME

This scheme is available to all borrowers throughout England, Scotland and Wales purchasing or remortgaging owner occupied fully residential property.

The Society will give a discount of 1% from its standard variable rate for a period of 3 years from the release of the initial advance. At current rates the initial rate charged will be 3.15% increasing to 4.15% on the third anniversary of the loan. (Typical overall rate for comparison 4.00%).

The maximum loan is 75% of the value or purchase price of the property whichever is lower. The minimum loan is £30,000.

Any redemption, capital repayment or overpayment made to the mortgage within the period of the discount will be subject to an early repayment charge of 1% of the capital balance outstanding in the case of redemption or 1% of the amount of the capital repayment or overpayment. After the initial three year period the mortgage may be redeemed or capital repayments or overpayments made without penalty.

FEES PAID SCHEME

This scheme is available to properties in Cumbria only and the minimum loan amount is £30,000.00.

On remortgages, mortgages on existing owner occupied property and new purchases, as long as the Society’s nominated Solicitors, Gaynham King and Mellor, are appointed, the Society will offer the following:

Mortgage valuation fee paid;

If you require a Homebuyers Report in addition to the mortgage valuation this can be arranged at the same time, but you would have to pay the additional fee.

Legal costs paid including disbursements, but not including Stamp Duty

This is on the assumption that the transaction is uncomplicated. If any complications arise which involve the Solicitors in additional work you will be required to pay any additional legal fees, but these will be agreed between you and the Solicitors before the additional work is carried out.

If you withdraw from the transaction or fail to take up the mortgage advance then you will become responsible for all the legal costs without a contribution from the Society.

0.5% DISCOUNT SCHEME

This scheme is available to all borrowers throughout England, Scotland and Wales purchasing or re-mortgaging owner occupied fully residential property.

The Society will give a discount of 0.5% from its standard variable rate for a period of 5 years from the release of the initial advance. At current rates the initial rate charged would be 3.65% increasing to 4.15% on the fifth anniversary of the loan. (Typical overall rate for comparison 4.1%).

The minimum loan is £30,000. Any redemption or overpayment made to the mortgage within twelve months of the initial advance will be subject to an early repayment charge of 0.5% of the amount of the advance in the case of a redemption or in the case of a capital repayment 0.5% of the amount overpaid. After the initial twelve month period the mortgage may be redeemed or overpayments made without penalty.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgages subject to status. Only available to those aged 18 and over. Written quotations available on request. Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR. Previous mortgage cost is not an indication of future cost.

Home Reports Mortgages Current products & rates Key commitments Mortgage services guide Request for illustration Awards Savings Contact Privacy Policy Site Map ...reports...... AGM Results 2011 Annual Review of 2010 Annual Report and Accounts 2010 Pillar 3 Disclosure Document	Current Mortgage Products and Rates For mortgages on properties outside the Society’s local area (i.e. Cumbria), the maximum loan to value is 75%. At the present time the maximum loan that the Society will consider within the local area is 90% of the value of the property. You should contact the Society to ascertain the maximum loan to value ratio available in any particular case. With effect from 01/04/2009 the Society’s current standard variable rate is 4.15%. (Typical overall rate for comparison 4.3%) If the property offered for mortgage is not for owner occupation you should contact the Society by telephone for an initial discussion regarding your requirements. Discounts or incentives may be granted for mortgages on owner occupied properties under the following schemes: 2 YEAR DISCOUNT SCHEME This scheme is available to all borrowers throughout England, Scotland and Wales purchasing or remortgaging owner occupied fully residential property. The Society will give a discount of 1.5% from its standard variable rate for a period of 2 years from the release of the initial advance. At current rates the initial rate charged will be 2.65% increasing to 4.15% on the second anniversary of the loan. (Typical overall rate for comparison 4.0%). The maximum loan is 75% of the value or purchase price of the property whichever is lower. The minimum loan is £30,000. Any redemption, capital repayment or overpayment made to the mortgage within the period of the discount will be subject to an early repayment charge of 1.5% of the capital balance outstanding in the case of redemption or 1.5% of the amount of the capital repayment or overpayment. After the initial two year period the mortgage may be redeemed or capital repayments or overpayments made without penalty. 3 YEAR DISCOUNT SCHEME This scheme is available to all borrowers throughout England, Scotland and Wales purchasing or remortgaging owner occupied fully residential property. The Society will give a discount of 1% from its standard variable rate for a period of 3 years from the release of the initial advance. At current rates the initial rate charged will be 3.15% increasing to 4.15% on the third anniversary of the loan. (Typical overall rate for comparison 4.00%). The maximum loan is 75% of the value or purchase price of the property whichever is lower. The minimum loan is £30,000. Any redemption, capital repayment or overpayment made to the mortgage within the period of the discount will be subject to an early repayment charge of 1% of the capital balance outstanding in the case of redemption or 1% of the amount of the capital repayment or overpayment. After the initial three year period the mortgage may be redeemed or capital repayments or overpayments made without penalty. FEES PAID SCHEME This scheme is available to properties in Cumbria only and the minimum loan amount is £30,000.00. On remortgages, mortgages on existing owner occupied property and new purchases, as long as the Society’s nominated Solicitors, Gaynham King and Mellor, are appointed, the Society will offer the following: Mortgage valuation fee paid; If you require a Homebuyers Report in addition to the mortgage valuation this can be arranged at the same time, but you would have to pay the additional fee. Legal costs paid including disbursements, but not including Stamp Duty This is on the assumption that the transaction is uncomplicated. If any complications arise which involve the Solicitors in additional work you will be required to pay any additional legal fees, but these will be agreed between you and the Solicitors before the additional work is carried out. If you withdraw from the transaction or fail to take up the mortgage advance then you will become responsible for all the legal costs without a contribution from the Society. 0.5% DISCOUNT SCHEME This scheme is available to all borrowers throughout England, Scotland and Wales purchasing or re-mortgaging owner occupied fully residential property. The Society will give a discount of 0.5% from its standard variable rate for a period of 5 years from the release of the initial advance. At current rates the initial rate charged would be 3.65% increasing to 4.15% on the fifth anniversary of the loan. (Typical overall rate for comparison 4.1%). The minimum loan is £30,000. Any redemption or overpayment made to the mortgage within twelve months of the initial advance will be subject to an early repayment charge of 0.5% of the amount of the advance in the case of a redemption or in the case of a capital repayment 0.5% of the amount overpaid. After the initial twelve month period the mortgage may be redeemed or overpayments made without penalty. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Mortgages subject to status. Only available to those aged 18 and over. Written quotations available on request. Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR. Previous mortgage cost is not an indication of future cost.	Apply online for a mortgage illustration Current investment products and interest rates
2007©Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR. Tel: 01768 863675 Penrith Building Society is regulated by the Financial Services Authority and is entered in its register under number 164473 www.fsa.gov.uk/register