Chorley Building Society has launched two new large loan mortgage products.
The products were introduced after feedback from brokers that clients were looking for larger loans with more flexibility.
The two new products feature the ability to overpay 20% of the capital balance per annum, without invoking an early repayment charge.
One of the mortgage products is a later life mortgage, which is available to applicants aged 75+ on application and/or at the end of the mortgage term.
A two-year discount product at 50% LTV is available at 4.59% and the later life equivalent product has a rate of 4.99%.
Shane Dye (pictured), senior business development manager, commented: “We’re really pleased to launch products aimed at those who need larger loans. We know that sometimes borrowers are looking for flexibility and being able to make overpayments of 20% of the capital balance per annum, without invoking an early repayment charge, is something that our brokers have told us that their clients are looking for.”
