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Real Estate
In a significant move aimed at supporting aspiring homeowners, Chorley Building Society has introduced two innovative mortgage products designed exclusively for first-time buyers. These fee-free mortgages are part of an initiative to make purchasing a home more accessible and affordable for those taking their first steps on the property ladder. The new offerings include a 2-year fixed-rate mortgage at 90% Loan-to-Value (LTV) and another at 95% LTV, both of which offer fixed interest rates until July 2027 and come with a generous cashback incentive.
Chorley Building Society's latest products are a testament to the institution's commitment to helping individuals achieve their dream of homeownership. By eliminating upfront fees and providing cashback, these mortgages reduce the financial burden typically associated with purchasing a home. For first-time buyers, who often face challenges in saving for down payments and additional costs, these mortgages represent a welcomed break.
First-time buyers often face substantial barriers to entering the housing market, including high upfront costs. By introducing fee-free mortgages with cashback incentives, Chorley Building Society is directly addressing these challenges:
Chorley Building Society's initiative is part of a broader strategy to support those entering the housing market for the first time. They also offer support for government-backed schemes such as First Homes, Shared Ownership, Help to Buy (Wales), and the Discount Market Scheme. These programs, combined with the new fee-free mortgages, provide comprehensive support for aspiring homeowners.
Liz Pearson, Head of Operations at Chorley Building Society, emphasized the Society's long-standing mission to assist individuals in buying their own homes. "Our exclusive first-time buyer mortgages have been designed to support those looking to get onto the housing ladder as they do not have application or scheme fees and also include a cashback," Pearson noted. This commitment to supporting first-time buyers has been recognized with recent accolades, including being shortlisted for the First Time Buyer Mortgage Lender of the Year award at the 2025 Mortgage Awards.
While many mortgage providers charge various fees, Chorley Building Society's fee-free approach sets it apart. Here's a comparison of typical mortgage costs and how these new products differ:
First-time buyers interested in these unique mortgage products can apply by visiting Chorley Building Society's website or contacting their mortgage team directly. The Society provides comprehensive guidance throughout the application process, ensuring that those new to the property market feel supported every step of the way.
Chorley Building Society's introduction of fee-free mortgages for first-time buyers reflects a broader trend in the financial sector to make homeownership more accessible. By combining competitive fixed rates, zero fees, and cashback incentives, these mortgages offer an attractive solution for those seeking to enter the housing market. With ongoing support for government-backed schemes and a commitment to delivering excellent customer service, Chorley Building Society is solidifying its position as a leading choice for first-time buyers looking to make their dream of owning a home a reality.
As the housing market continues to evolve, innovations like these fee-free mortgages highlight the importance of considering both cost and support when selecting a mortgage provider. For those navigating the complex process of buying their first home, Chorley Building Society's latest offerings are certainly worth exploring.
