Cumberland Building Society offers flexible and offset mortgages, as well as other mortgages with some flexible features. The Cumberland flexible mortgage is available to first time buyers, home movers and remortgagers. The Cumberland flexible mortgage offers a discount off its standard variable rate for three years.
The standard variable rate is generally a few percentage points above the Bank of England base rate so don’t be fooled by big discounts and the initial standard variable rate may be higher then others – With this in mind, we suggest that you check with the lender to find out what their standard variable rate is before you make any decisions re the attractiveness of the mortgage rate or deal
With the Cumberland flexible mortgage, borrowers will get their mortgage illustrations direct from the building society and one needs to always compare the fees with other lenders, especially the more mainstream lenders who will be offering competitive alternatives. Check for: valuation fees, legal fees, arrangement fees, administration fees and whether there are any other compulsory purchases.
Overpayments are permitted at anytime with the Cumberland flexible mortgage and underpayments and payment holidays are allowed, subject to previous overpayments. There are no early repayment charges at any time. The maximum loan to value has been as high as 90 per cent, but again this is worth checking with the lender. Overpayments may be refunded on request and additional borrowing is also available at the mortgage rate. However underpayments and payment holidays could increase the mortgage term and/or the total amount payable.
Cumberland Building Society also offers an offset mortgage deal to first time buyers, home movers and remortage customers. The Cumberland offset mortgage is available at up to 90 per cent loan to value. The interest rate on the Cumberland offset mortgage is set at 0.59 per cent above the base rate for the life of the mortgage. This gives an APR of 5.7 per cent.
Cumberland Building Society also offers an offset mortgage deal to first time buyers, home movers and remortage customers. 
Overpayments are permitted at anytime with the Cumberland offset mortgage and underpayments and payment holidays are allowed, subject to previous overpayments. Check to see if there are any early repayment charges? The linked offset savings account requires a minimum balance of £10.
Cumberland Building Society has also offered in the past discount and cash back mortgage deals with flexible features. The interest rates and deals vary slightly, depending on whether you are a home mover, first time buyer or remortgage customer and according to the loan to value.
The Cumberland does not deal with all mortgage intermediaries and does not provide us with its current deals and rates. With this in mind we would ask you to confirm the mortgage rates and deals directly with them and then contact us for a FREE comparison.*.
However, please note that The Offset Mortgage Centre cannot advise on or arrange mortgages from the Cumberland Building Society.
Free mortgage payment protection insurance for 6 months
Limited branches outside of northeast England
Payment holidays
