FAQs

We have a different approach from most lenders when it comes to lending to churches and charities.

For Church buildings:

Most lenders will require a deposit of 30% or 40% of the building’s value, whereas we use a sliding scale and require just 20% deposit on smaller properties, rising to 40% on more extensive buildings.

For Residential buildings:

We require a deposit of minimum 10% of the building’s value.

If your organisation owns other properties, these may be used as additional security so you may be able to borrow more of your project amount.‍ 

We would love to talk to you so that we can hear more about your aims and vision, and see what we can do to help.

Currently we don’t offer fixed interest rates on any church and charity lending.

No. We recognise that you are giving your time and skills voluntarily and, under normal circumstances, do not ask you to make any greater commitment than ensuring you act responsibly and use the organisation’s money and assets to repay the mortgage.

You will normally need to provide a deposit and we will guide you on the amounts required.

A term of up to 30 years is available but we realise that sometimes a shorter term is more appropriate.

We make every effort to provide an excellent service to our customers. Occasionally, however, things go wrong and we will make every effort to put them right. Please visit the complaints area of our website for information on how to pursue a complaint.

We calculate interest on a daily basis for all new repayment mortgages.

The Bank will appoint its own solicitor to oversee the transaction and you will be responsible for meeting the Bank’s solicitor’s fees. Using the same solicitor to also act on your behalf can often save on costs and be quicker, but you are free to choose your own solicitor if you prefer.

To ensure the property is suitable as security, we will arrange a valuation by an approved valuer. We will obtain quotations from our panel of valuers to give you an indication of the costs involved before any arrangements are made.

If the organisation is led by one or more key people we may ask that assurance is taken over the life of the leader(s) sufficient to repay the mortgage. This means that, in the event of a fatal accident or unexpected death of the leader, the organisation is able to clear the mortgage and take time to appoint a new leader without the fear of being unable to meet the mortgage repayments.