Compare Mortgage Rates from Harpenden Building Society Against the Market

About Harpenden Building Society

The society's entire lending model is built on manual underwriting. They do not use automated credit scoring systems to make lending decisions. Instead, every application is individually assessed by an experienced human underwriter.

This "common-sense" and "open-minded approach" allows them to delve into the details of an applicant's unique financial situation, making them a "go-to" lender for brokers with complex cases. They are known for welcoming "unusual, unique and quirky circumstances."

Mortgage Products

Harpenden Building Society offers a wide range of specialist mortgage products for properties across England and Wales. Their focus is almost entirely on non-standard borrowers.

Their key specialisms include:

• Complex Income: This is their core strength. They are highly flexible in assessing various income sources, including:

  • Self-Employed: Including applicants with recent changes in employment type.

  • Contractors

  • Multiple Income Streams: They will consider salary, bonus, commission, foreign income, pension, and investment/trust income.

• Later Life Lending: They have no upper age restriction for borrowers, making them a key player for lending in and into retirement.

• Buy-to-Let (BTL) & Holiday Lets: They offer a range of products for BTL, second homes, and holiday lets.

• Self-Build Mortgages: They provide specialist finance for customers building their own homes.

• Quirky Properties: They are known for their willingness to lend on unusual property types, such as those with up to three properties on one title.

• Joint Borrower Sole Proprietor (JBSP): They consider JBSP and Guarantor applications.

• Credit Repair: They offer a specific "Credit Repair" product range for applicants who may have minor credit issues in their past.

Pros and Cons of a Harpenden Building Society Mortgage

Here's a balanced look at the advantages and disadvantages of choosing Harpenden.

Pros:

• Expert Manual Underwriting: This is their greatest advantage. Every case is reviewed by a person, making them ideal for borrowers with complex incomes (e.g., self-employed, multiple jobs, trust income) or those who are retired.

• No Upper Age Limit: A standout feature for later-life borrowers who are often declined by mainstream lenders due to their age.

• Specialist Niche Leader: They are a highly-regarded lender for self-build, complex BTL, and unusual property types.

• Broker Access: Brokers have direct access to the underwriting team, which can help resolve queries and get complex cases approved.

Cons:

• Intermediary-Only: You cannot apply directly. You must use an approved mortgage broker, which is a standard requirement for this type of specialist lending.

• Rates & Fees Can Be Higher: As a specialist lender dealing with more complex and time-consuming applications, their interest rates and arrangement fees are typically higher than "headline" rates from high-street banks.

• Slower Processing: The in-depth, manual nature of their underwriting means the application process can be more "laborious" and take longer than with an automated lender.

Customer Service and Reviews

As an intermediary-only lender, most of their reviews come from brokers or from customers commenting on their savings products. The savings service is rated "Excellent" on Smart Money People (4.29/5), with customers frequently praising the "polite, friendly, honest and helpful" staff.

Among mortgage brokers, the society is highly respected for its "pragmatic and sensible approach." Brokers value their willingness to tackle complex cases and their "open-minded" criteria, which are seen as a vital alternative to the rigid computer-based decisions of larger lenders.

How to Apply for a Mortgage with Harpenden

You cannot apply for a new mortgage directly with Harpenden Building Society.

The application process must be handled by an approved intermediary (mortgage broker).

1. Make an enquiry to get matched with a mortgage broker: There are brokers on our team who specialise in Harpenden’s products range.

2. Broker Assessment: Your broker will review your full financial situation and determine if you fit Harpenden's specialist criteria.

3. Agreement in Principle: Your broker will approach the society's Business Development Team to discuss the case and secure an Agreement in Principle.

4. Full Application: Your broker will then submit your full application and supporting documents to Harpenden's online portal for the underwriting team to manually assess.