The Cambridge Building Society: A Leading Mortgage Provider for Intermediaries
The Cambridge Building Society is a UK mutual building society based in Cambridge, Cambridgeshire, England. It is the 13th largest in the United Kingdom based on total assets of £1,586 million at 31 December 2019. It is a member of the Building Societies Association.
The Society offers a range of mortgage products for intermediaries, including fixed-rate mortgages, variable-rate mortgages, and buy-to-let mortgages. It also offers a range of savings products, including fixed-rate savings accounts, variable-rate savings accounts, and Cash Isas.
The Society has a strong reputation for customer service and is known for its competitive rates and flexible products. It is a popular choice for intermediaries looking for a reliable and trustworthy lender.
Here are some of the services that the Cambridge Building Society offers for intermediaries:
- Mortgages: The Society offers a wide range of mortgage products for intermediaries, including fixed-rate mortgages, variable-rate mortgages, and buy-to-let mortgages.
- Savings: The Society offers a range of savings products for intermediaries, including fixed-rate savings accounts, variable-rate savings accounts, and Cash Isas.
- Customer service: The Society has a strong reputation for customer service and is known for its competitive rates and flexible products.
- Intermediary support: The Society offers a range of support services for intermediaries, including training and development, marketing support, and compliance support.
If you are an intermediary looking for a reliable and trustworthy lender, the Cambridge Building Society is a good option to consider.
How to Get a Rate Switch or Product Transfer
There are many reasons why clients want to do a rate switch/product transfer instead of doing a remortgageRefinancing an existing mortgage with a new mortgage.. Many clients just do not want to go through the hassle of the legal work involved with a remortgage. Others have built up a long-term relationship with their lender and are happy, so they do not want to move.
Other clients’ circumstances have changed, so getting a remortgage and going to another lender is not feasible. They might have just gone self-employed and do not have adequate income proof. They may have a reduction in income due to going part-time or starting a family.
Product Transfers and Rate Switches do not usually involve credit searches, so if a client’s credit profile would prevent a remortgage, then in most cases, provided their mortgage payments are up to date, their existing lender will allow a rate switch.
How We Work
1: We contact you and take down your details, income outgoings, name, address etc.
2: We will research the whole market and email you a detailed quote as well as a list of documents to proceed.
3: You upload the documents and information needed via our channel our online portal.
Why move your mortgage from Cambridge Building Society?
Most of the time, the standard variable rate (SVR) is much higher than what can be offered by your current mortgage lender. With Cambridge Building Society, our company can switch your rate to prevent it from going onto the SVR and, as a result, save you money on your monthly payment. However, suppose the product is not as competitive as another mortgage lender in the mortgage market. In that case, we will then consider remortgaging to a different provider from the mortgage market instead of doing a product transfer.
Cambridge Building Society, also known affectionately as “Your Cambridge” has been a part of the community since 1850. They are known for their strong customer satisfaction rate and core values. They count themselves as committed to the community and provide help to work with and enrich local charitys they work with.
The next steps to process the rate switch with Cambridge Building Society is a simple process and will just require you to follow the following steps;
- Fill in the online enquiry form
- We will then contact you to discuss the options available to you.
- Confirm that you are happy to proceed with the information we provide you and we will then accept the new rate for your mortgage.
Not all lenders allow rate switches and product transfers. However, the number of lenders allowing this has grown significantly over the last few years. As a whole of market broker we can compare what is available via your existing lender and what deals are also available from the whole market for you.
Rate switch reviews below for existing clients
FAQs
What is Cambridge for Intermediaries?
Cambridge for Intermediaries is the intermediary arm of Cambridge Building Society, providing mortgage products and services specifically for intermediaries in the UK. They offer a range of mortgage products and dedicated support for intermediaries, making it easier for them to help their clients find the right mortgage product.
Who can work with Cambridge for Intermediaries?
Any intermediary, broker, or financial adviser who is authorized by the Financial Conduct Authority (FCA) to give mortgage advice and recommendation can work with Cambridge for Intermediaries. You will need to register with them to access their mortgage products and services.
What types of mortgage products are available through Cambridge for Intermediaries?
Cambridge for Intermediaries offers a range of mortgage products, including fixed-rate, variable-rate, and buy-to-let mortgages. They also have products specifically for first-time buyers, self-employed individuals, and those with non-standard income.
How do I submit a mortgage application with Cambridge for Intermediaries?
Once you’re registered with Cambridge for Intermediaries, you can submit mortgage applications on behalf of your clients through their online portal. This portal is accessible 24/7 and easy to use. You can also contact their intermediary support team for assistance with submitting applications.
What support does Cambridge for Intermediaries provide for intermediaries?
Cambridge for Intermediaries provides dedicated support for intermediaries in the UK. You can contact their intermediary support team by phone, email, or live chat for assistance with your applications or for answers to any questions you may have. They also provide a range of tools and resources on their website, including product guides, criteria guides, and affordability calculators.
How do I track the progress of my mortgage applications with Cambridge for Intermediaries?
You can track the progress of your mortgage applications through the Cambridge for Intermediaries online portal. This will keep you up-to-date with any developments or issues that arise, and help you keep your clients informed throughout the process.
When will I receive payment for successful mortgage applications with Cambridge for Intermediaries?
You will receive payment promptly once your client’s mortgage completes. Cambridge for Intermediaries has a straightforward payment process that ensures intermediaries are compensated fairly and promptly for their work.
About The Author
Damian is an experienced mortgage broker, founder of NeedingAdvice.co.uk Ltd and company director. With over a decade working as a mortgage broker he has a strong understanding of hard to place mortgage cases. With hundreds of 5 star client reviews. hundreds of repeat clients his work speaks for himself.
He started NeedingAdvice.co.uk as a one man band with the philosophy of putting clients needs ahead of his own. This ethos of offering excellent customer service has helped the business grow over the years. He gets satisfaction on getting cases pushed through to offer stage where other mortgage broker and companies have failed.
Throughout his time as an adviser he has carved out a niche area of advice helping clients with their business protection requirements too. Having helped hundreds of client with Relevant Life Policies, Shareholder Protection Insurance, Keyperson Policies and other important protection requirements of large to small businesses.
At home he is a family man and likes to spend his time with his four children and wife Lisa. He enjoys going on holidays spending time with friends and going for walks.
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