The Cambridge Building Society (often referred to as "The Cambridge") is an independent, mutual building society founded in 1850. Based in Cambridgeshire, it is the 13th largest building society in the UK.
Unlike Cambridge & Counties Bank (which is for business/investors), The Cambridge Building Society is a mainstream personal lender. It is widely respected for its "human approach" to lending, using manual underwriting rather than relying solely on automated computer scorecards.
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About The Cambridge Building Society
As a mutual institution, The Cambridge is owned by its members (savers and borrowers). It lends on properties across England and Wales.
Its core philosophy is "making the complex simple." By manually underwriting applications, they can look at the "real life" story behind the data. This makes them a strong choice for borrowers who don't fit the standard "vanilla" profile, such as those with complex income, self-employment, or minor credit blips.
Mortgage Products
The Cambridge offers a diverse range of residential and specialist mortgages:
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Standard Residential: Fixed and discounted variable rate mortgages for home movers and first-time buyers.
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95% LTV Mortgages: They support first-time buyers with low deposit options (5% deposit), including on flats (up to 10 storeys in some cases).
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Shared Ownership: They are a significant lender in the Shared Ownership market, offering up to 95% LTV of the share you are buying.
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Buy-to-Let: Products for "consumer" and "business" landlords, although they typically restrict this to smaller portfolios rather than large corporate investors.
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"Home Solutions" (Credit Repair): This is a specialist range designed for borrowers with less-than-perfect credit. They can consider applicants with:
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Missed payments on loans or credit cards.
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Satisfied defaults or CCJs (up to certain limits, e.g., under £5,000).
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This is strictly manually underwritten to ensure the borrower is now back on track.
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Self-Employed: They are flexible with income evidence, often considering applicants with one year's accounts if the business is established and sustainable.
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Rent a Room: They can take income from a lodger (Rent a Room scheme) into account for affordability, which many high-street lenders will not do.
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Pros and Cons of The Cambridge Building Society
Here is a balanced overview of choosing The Cambridge for your mortgage.
Pros:
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Manual Underwriting: Every case is reviewed by a human underwriter. They don't use a "computer says no" credit score to automatically reject you, which is vital for complex cases.
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Adverse Credit Options: Their "Home Solutions" range provides a genuine high-street route for borrowers recovering from financial hiccups, often at rates better than specialist sub-prime lenders.
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95% LTV on Flats: They are more flexible on property types (including high-rise flats) than many competitors.
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Intermediary Support: They have a very strong relationship with mortgage brokers ("Cambridge for Intermediaries"), giving you access to expert advice.
Cons:
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Slower Than Algorithms: Because a person reviews the documents, the "time to offer" can be slightly longer than the instant automated decisions from banks like Halifax or HSBC.
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Strict on Affordability: While flexible on criteria (like credit history), they are responsible lenders and will stress-test affordability rigorously.
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Regional Focus: While they lend nationally, their most competitive "local" products are sometimes reserved for residents in specific East Anglian postcodes (CB, PE, etc.).
Customer Service and Reviews
The Cambridge Building Society has a strong reputation for service, winning "Best First Time Buyer Mortgage Provider" at the Moneyfacts Awards.
On review platforms like Smart Money People, they consistently receive high ratings (typically 4.5+ out of 5). Customers and brokers praise the "common sense" attitude of the staff and the ability to speak to an underwriter directly to explain a complex situation.
How to Apply for a Mortgage
You have two main routes to apply:
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Through a Mortgage Broker (recommended): This is often the most effective route, especially if you have complex income or credit issues. Brokers can access the "Cambridge for Intermediaries" team to discuss your case before submitting it.
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Direct Application: You can apply directly by booking an appointment with a mortgage adviser at one of their branches (in and around Cambridge) or via telephone/video call.
Get started here to book a free, no-obligation chat with a mortgage broker who specialises in The Cambridge’s product range, can compare it against the rest of the market for you, and offer bespoke advice on which option you should choose.