Banking & Personal Finance > Building Societies

Advantages: mutual, great product
Disadvantages: only open to people in area, accounts are now closed

...provider Money£acts announced that the Staffordshire Building Society TESSA’s has given one of the best returns to its members over the last five years. As a Tessa holder this has of course pleased me. Money£acts revealed, if you had put £9,000 in the Staffordshire Building Society TESSA, which was place 6th in the table then you would be £662 better off than if you had invested with the worst. Although Tessa's are now closed I have written this ...
...a whole and the current financial services market. Interestingly no high street banks appeared in the top 20 which was dominated by regional building societies and embarrassingly for the clutch of PLC’s who gave up their mutual status Bradford and Bingley was placed highest at 33rd. I am not surprised that the best performing TESSAs are predominantly provided by building societies. It is also worth noting that none of the major banks, and in particular, ... Read review

Advantages: Customer service, up front about fees
Disadvantages: Fees for statements, high early repayment charges

...product, but work to remortgage Lambeth Building Society mortgages on an everyday basis. The Lambeth Building Society is now known as Portman Building Society and we contact them for all queries in regards to repaying your mortgage. The Portman are generally quite efficient when it comes to the process of you wishing to remortgage, but there are a few points that people must take note of when repaying their mortgage. Early repayment charges which ...
...fixed term tend to be very high with the Portman in relation to the size of your mortgage. Obviously they are a percentage of your mortgage, but the percentage (I cannot tell you what this in a numerical format, simply check your original contract) is very high in comparison to more mainstream lenders such as Halifax and Nationwide who sometimes have early repayment charges less than £100. I have never seen this with Portman. Also, be careful how ... Read review

Advantages: Excellent, personal and competitive service
Disadvantages: Not everyone realises how good they are!

An excellent local Building Society that prides itself on quality of service. Provided you yourself make the effort to be an honest, reliable and geuine client, you will find this organisation will do its utmost to offer a quality of service that is quite unique. Mortgage Products are constantly improving and the rates are not as generous as the high street but the service levels also way exceed the high street. However for flexibility and understanding, ... Read review

Advantages: Local and chatty
Disadvantages: Not the highest interest payers

I've had an account with 'the Cambridge' since I was at secondary school. I'm now 29 and have to say that in terms of customer service I cannot fault them. The staff are always cheerful, friendly and helpful. This is where this building society shines...local, personal service of a very high standard. I once saw a clerk spend a good ten minutes chatting with an old lady who, I guess, just felt a bit lonely and wanted someone to talk to. I wouldn't ...
...recommend them either...they are neither one thing nor the other. By that I mean that they are not bad, there are lots and lots of accounts that are worse than the CBS however, to be honest, they are not that good either. If one were to buy a copy of 'Which?' or a Sunday paper it becomes obvious that a better deal can be had from a number of building societies and banks. In addition the CBS's web site is good but again not that good...they are light ... Read review

Advantages: Good interest rates, efficient postal service
Disadvantages: No cheque books or Link cards, few branches

I have been a member of the Society for several years and have been very satified with the Customer service. Interest rates have declined over the years but remain fairly competitive. The Loyalty account pays an excellent rate of interest but unfortunately after the initial launch there hasn't been an opportunity to add to the balance. A wide range of savings and investment are offered for all ages. Mortgages are also available and whilst my mortgage ...
...would certainly encourage me to consider their mortgage products should the occasion arise. Development of the postal account and the addition of LINK cards would provide a welcome enhancement to the service provided particularly for customers who do not live near a branch. I know their focus is on the local market but I feel they have the potential to compete against their larger rivals particularly on service. Additional services such as current ... Read review