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).
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.
On the Bank’s variable rate products this is possible although if you transfer the mortgage to another lender, an early repayment charge equivalent to up to 3 months’ interest may apply for a period of up to 5 years (depending on the product).
For the Bank’s fixed rate product there are restrictions to the amount of overpayment or lump sum payments possible each year without charge and details of these restrictions can be found on our interest rate sheets.
It is free to make an enquiry and an initial outline application. When you make a full application, we will ask you to pay a non-refundable part of the mortgage arrangement fee (this part is referred to as the mortgage application fee). The remainder of the Mortgage Arrangement fee is payable only when you accept a formal offer of mortgage from the Bank. The total cost of taking a mortgage from Kingdom Bank consists of a property valuation fee, Solicitors fees and the Bank’s mortgage arrangement fee.
Please see our mortgage interest rates sheet for more details of these fees.
From time to time we are able to offer fixed rates. All of our interest rates are quoted on our ’current rates’.
Kingdom Bank can currently only consider mortgage secured on properties in England and Wales.
This depends on two factors:-
To make a preliminary enquiry please call us on 0115 921 7280.
To properly assess whether the Bank can help, we will normally need to look at:
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.
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.
Yes, you can also use our services if you plan to extend or develop an existing property.
Yes, we can also arrange stage payments to finance construction costs based on a forecast valuation of the property. For large projects, Kingdom Bank has a more detailed process and we are here to guide you through it.
Initially, please get in touch. Every member of staff is trained to assist you, and we aim to resolve any issues that might arise as quickly as possible. In the unlikely event that you are still dissatisfied, please see our leaflet 'Your Guide to Customer Complaints' which provides details of how to pursue your complaint. We are members of the Financial Ombudsman Service.
For details of the rates that we currently offer, please see our current rates, or call us on 0115 921 7280.
We calculate interest annually on 1st January each year.
The Bank will appoint its own Solicitor to oversee the transaction and you will be responsible for meeting the Banks 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.
When the organisation is led by one or more key people we will ask that assurance is taken over the life of the leader(s) sufficient to repay the mortgage. This means 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.
Whichever route you are considering we would like to encourage you to talk to us. We can then explore ways in which we can help. We would like to share your passion for what you are doing.
Commercial mortgages and Buy-to-Let mortgages are not currently regulated by the Financial Conduct Authority, and therefore do not have the same protections as regulated personal mortgages, including Consumer Buy-to-Let mortgages. Please contact us for more details if required.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.