Mortgages for Organisations.

For Kingdom Bank, everything we do flows from our faith which makes us distinctly different from almost every other bank.

We aim to place Jesus Christ at the centre of our business with the goal of seeing lives changed as a result of the work of the churches and organisations we serve and the profits we give away to good causes.

Our offerings

Our values shape our approach to business. They really do make a difference to what we do and the way that we look after our customers. They are:

Mortgages for Churches

We love churches that are growing and need more space. It means that their ministry is growing. At Kingdom Bank we are specialists in helping churches to grow their buildings.

Mortgages for Charities

Charity income is often
dependant on grants and donations. This is an area we specialise in, and we understand how this can work for Charities more than many mainstream lenders.

Social Return Mortgages

Kingdom Bank has a history of working with Organisations who want to make a difference in their area or community, impacting the lives of people in different ways. This can be helping those who are in difficulty or struggling with particular problems (including life controlling situations).

Social Enterprise Mortgages

Some of the projects which Kingdom Bank has been able to fund include Youth Centres, Sports Halls and Skateparks, housing schemes, signposting centres, pre-school and nursery centres, after school clubs and multi-use centres which provide a combination of the above.

What are your charges and fees?

Early Repayment Charge – Managed Rate (Variable)

An early repayment charge of 3 months interest is payable if you take out a mortgage with Kingdom Bank and transfer the mortgage to another lender within the first 2 years.

Early Repayment Charge – Fixed Rate

An early repayment charge applies to this product as follows:-

Year 1: 1.50%
Year 2: 1.00%
Year 3: 0.50%

Mortgage Application Fee

An application fee of £300 is payable on application (non-refundable).

There is an additional fee for Fixed Rate mortgages of £600.

Solicitors Fees

Please contact us for details of fees for dealing with the Bank’s legal work. The Bank will require its own solicitor to act for the Bank in the setting up of the mortgage and the cost of this work is payable by the borrower.

Valuation Survey Fees

Please contact us for an indication of the cost of an independent mortgage valuation survey. The Bank will require a mortgage valuation of the property from an independent surveyor on the Bank’s panel of surveyors and the cost of the valuation is payable by the borrower.

What is your maximum Loan-to-Value ratio?

Our maximum Loan-to-Value is 80%

Do you offer mortgages secured against flats?

We can consider mortgages secured against some flats but there are circumstances when this may not be possible. Examples of these may be high-rise flats or those situated over shops, restaurants or offices. As flats are most often sold as leasehold the remaining term on the leasehold is also an important factor. Please contact us to discuss in more detail if you are considering purchasing a flat.

How much does it cost to apply?

It is free to make an enquiry and to go through our Fact Find process (if applicable). When you submit a full application, we will ask you to pay the mortgage application fee. The total cost of taking a mortgage from Kingdom Bank consists of a mortgage application fee, property valuation fee, solicitor’s fees and the Bank’s fixed rate fee.

Details of these fees can be found under our FAQ ‘What are your charges and fees?’.

Over how long can we borrow the money?

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

What documents will I need to supply when applying for a mortgage?

We will require documents from you to verify your identity, income and expenditure. The exact documentation needed will vary depending on your particular circumstances. Please get in touch and we will be glad to discuss what’s needed.

What does APRC mean?

‘APRC’ stands for ‘Annual Percentage Rate of Charge’. Mortgage Lenders now have to include any mortgage related fees, redemption charges and valuation fees as part of the annual interest calculation when quoting an interest rate and this is referred to as the APRC.

What if I have a complaint?

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 ‘contact us’ area of our website for information on how to pursue a complaint.

What is a Fact Find?

A Fact Find is a detailed questionnaire that looks at your circumstances and your personal preferences to enable a recommendation to be made for advised mortgages.

Who should we use as our solicitor?

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 but you are free to choose your own solicitor if you prefer.

Why do you need a valuation report? How much will this cost?

We need this report to ensure the property is suitable as security. Once the mortgage has been approved by the Bank’s Credit Committee 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 you would like to get in touch to discuss how Kingdom Bank might be able to help you, please do contact us.