| YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Our mortgage products can change or be withdrawn at any time and are subject to underwriting. |
We’re excited to now be offering 95% Loan to Value mortgages to our members! This means you can now get on the property ladder or remortgage from as little as a 5% deposit. This is great as it means members won’t need to save as much for a deposit for as long, allowing them to achieve their home-buying dreams earlier than they would if they needed to save up a 10% deposit.
In September 2022, the average house price in England was £296,000, which means to secure a 90% LTV mortgage, you must have a 10% deposit of £29,600. With the median annual savings of a UK household standing at £2,160, it would take just under fourteen years to save a 10% deposit for a house priced at £296,000, saving at this rate. With the introduction of 95% LTV mortgages, the amount required for a deposit would be half that required for a 90% LTV mortgage and would take just under 7 years at the same rate of saving.
Mortgages with your Credit Union
All mortgage applications are individually assessed by one of our in house Mortgage Advisers. Decisions are based on your ability to repay and not solely on your credit score.
When you begin the mortgage process with No1 Copperpot, we dedicate a personal Mortgage Adviser to you, who will take you through the entire process. We deal with all mortgage applications in-house, so if you have any questions you can contact us whenever suits you and we will be happy to assist.
Key benefits
✓ No application fees or arrangement fees
✓ A personal, in-house Mortgage Advisor to take you through the entire process
✓ Payroll deduction (in 28 forces) to make mortgage repayments effortless
✓ Our simple, free to use online Mortgage Calculator
Key information
| Mortgage amount | £25,000 up to a maximum of £300,000 |
| Maximum mortgage term | 35 years |
| Loan to Value (maximum) | Up to 95% |
| Over-payment charge | None* |
| Repaying your mortgage | You can repay through payroll deduction or Direct Debit |
*You can make over-payments on this mortgage throughout its term. Over-payments made within the first 2 years cannot exceed 10% of the original mortgage balance per annum from the date of completion. These over-payments would not be subject to the Early Repayment Charge.
All applicants must be a member of No1 CopperPot Credit Union and over 18 years of age. Applicants must be no more than 75 years of age at the end of the mortgage term.
| Our Mortgage Products |
| Standard Variable Rate Mortgage |
| Two Year Fixed Rate Mortgage |
| Three Year Fixed Rate Mortgage |
What you need to know
Once your mortgage has been approved we will need a valuation of the property to be completed, by a surveyor of our choice. You must remember to budget for the cost of the valuation as the fee will be required at the start of the process and it is non-refundable in the event of your mortgage not completing. For more information about surveys, please click here.
A solicitor of your choice will have to be appointed to deal with the legal process and the cost will vary depending on your chosen solicitor and the individual property.
We also have our full Tariff of Charges available on our website.
How to apply
You can request a call back by clicking on the button below, this allows you to choose a suitable time and date for us to call you. When we get in contact we will arrange a mortgage telephone interview with one of our qualified Mortgage Advisers who will assess your circumstances to advise and make a suitable recommendation.
Alternatively, you can contact us at any time during our office hours on 0161 741 3160.
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