Compare Mortgage Rates from Beverley Building Society Against the Market

About Beverley Building Society

While it operates from a single branch in East Yorkshire, Beverley Building Society lends on properties across England and Wales.

Its core philosophy is built on "common-sense lending." By avoiding automated scorecards, they can look at the bigger picture of an applicant's finances. This approach is particularly valuable for the self-employed, older borrowers, and those looking to build their own homes - sectors where computer algorithms often struggle to make accurate decisions.

Mortgage Products

The Society offers a diverse range of products, often with a focus on niche and specialist areas.

• Standard Residential: Mortgages for home movers and first-time buyers, including products up to 95% Loan-to-Value (LTV).

• Self-Build Mortgages: A major specialism. They support people building their own homes with flexible stage payments. Uniquely, they can lend up to 80% LTV at each stage of the build, helping cash flow during construction.

• Later Life Lending:

  • Lending into Retirement: They generally accept applications up to age 90 for standard mortgages, provided affordability is met.

  • Retirement Interest-Only (RIO): For older borrowers who wish to pay only the interest each month, with the loan repaid from the sale of the property when they die or move into care. There is no maximum age limit for RIO mortgages.

• Family Assist: To help first-time buyers, they offer a "Property Assist" scheme where family members can provide security (via a charge on their own property or savings) to allow the buyer to borrow up to 100% of the purchase price.

• Self-Employed: They are known for flexibility, often considering applicants with just one year of trading accounts, whereas most high-street banks require two or three.

• Joint Borrower Sole Proprietor (JBSP): Allows parents to support a child's application by using their income for affordability, without being named on the property deeds (avoiding Stamp Duty surcharges).

Pros and Cons of a Beverley Building Society Mortgage

Here is a balanced overview of the advantages and disadvantages of choosing this lender.

Pros:

• No Automated Credit Scoring: Decisions are made by humans, not computers. This is their biggest strength, allowing them to accept "common sense" cases that fail standard scorecards.

• Self-Build Experts: They are one of the few lenders with a dedicated and flexible self-build proposition.

• Direct Access to Underwriters: Whether applying directly or via a broker, the ability to discuss a case with the decision-maker is a rare benefit.

• Later Life Flexibility: With age limits up to 90 (or no limit for RIO), they are far more accommodating to older borrowers than mainstream banks.

Cons:

• Limited Branch Network: They have only one physical branch in Beverley. While they lend nationally, face-to-face service is strictly for locals.

• Rates: As a smaller, specialist society, their interest rates (often "Discounted Variable" rates) are typically higher than the lowest fixed rates available from the giant high-street banks.

• Geographic Restrictions: They lend in England and Wales, but not in Scotland or Northern Ireland.

• Basic Technology: Customer reviews often note the "traditional" nature of the society (e.g., passbooks for savings), which may not suit those who prefer a fully digital, app-based experience.

Customer Service and Reviews

Beverley Building Society consistently receives outstanding feedback for its service. On the independent review platform Smart Money People, they regularly score over 4.9 out of 5, with a rating of "Excellent."

Customers and brokers alike praise the "friendly," "efficient," and "personal" service. The recurring theme in reviews is the relief customers feel at being treated as individuals rather than numbers, with direct phone lines to staff who know their names.

How to Apply for a Mortgage with them

You have two main options for applying:

1. Direct Application: You can contact the Society directly.

• Call: You can speak to their mortgage team over the phone to discuss your needs.

• Branch: If you are local to East Yorkshire, you can visit their branch in Beverley.

Through a Mortgage Broker (recommended): The Society works closely with independent mortgage brokers. This is often the best route for complex cases (like self-build or bad credit), as a broker can package your application to ensure it meets the underwriter's specific requirements.

Get started here to begin a free, no-obligation chat with a mortgage broker who specialises in Beverley Building Society’s product range, can compare it against the rest of the market for you and offer independent advice about which option to choose.