History

The origins of the Cheshire Building Society began in 1870 when it was first established in Macclesfield. In 1969 the mergers began, not unlike many other building societies and at that time Cheshire was the 11th largest building society in the UK. Cheshire merged with the Northwich Building Society and many smaller mergers occurred over the next few decades.

These mergers resulted in expanding their branch network to over 52 building society branches and 13 property service branches. In December 2008, Cheshire was acquired by the Nationwide Building Society and it now operates as a trading division along with the Derbyshire building Society.

And although the Cheshire has always had a regional base, it now operates nationally with the launch of the Internet and Intermediary Sales Channels. Recently the head office in Macclesfield was closed. Now there are 42 branches in Lancashire, North Wales and Staffordshire and they server over 450,000 customers.

Their parent company, Nationwide is now the largest building society in the world with assets of over £200 billion and is currently the UK's second largest mortgage provider and second largest savings provider.

Its origins began with the Provident Union Building Society which was established in Ramsbury, Wiltshire (1846), and resulted from the merges with the Northampton Town & County Freehold Land Society, Northampton (1848) and the Southern Co-operative Permanent Building Society, London (1884). There are over 19,000 employees and 15 million members. They operate 1,000 retail outlets across the UK with their Head Office being located in Swindon.

Remortgages offered through Cheshire Building Society

The Cheshire offers theses main remortgages:

Fixed mortgages - are set at an agreed rate for a set period from 3, 5, 15, 20 or 25 year fixed rate mortgages. After the fixed period the interest rate reverts to the Chershire's standard variable rate. There is also a 3 year stepped rate called the "FirstStart" mortgage. It is set at a low rate of interest for the first 3 years. It then reverts to the standard variable rate for the rest of the mortgage term.

Tracker mortgage - for the first year the rate is set at the Bank of England of base rate - after this the rate will be set at an amount above the Bank of England base rate for the next 4 years.

Discount mortgages - this is a mortgage set at the Cheshire's standard variable rate less a discount. How long the discount is depends on which product you choose. They range from 2 - 3 years. They then revert to the societyÕs standard variable rate.

Cash back mortgage - this is set at the standard variable rate. You can get up to 6% of your mortgage as a "one off" cash lump sum up to £30,000.

Shared Ownership - this is a 3 year fixed rate mortgage which will then revert to the standard variable rate after this period.

If you are interested in a mortgage quotation including those offered by the Cheshire Building Society you can complete their quick enquiry form.