Rate Reduction Announcement

Changes to Our Mortgage Rates

We are delighted to announce that we will pass on the full benefit of the Bank of England 0.25% August 2016 rate reduction onto our Standard Variable Mortgage Rate and Mortgage Variable Rate.

Our Standard Variable Rate, which is no longer available to new borrowers, will reduce from 5.44% to 5.19% and our Mortgage Variable Rate will reduce from 5.54% to 5.29%. This change will be effective from 1 October 2016.

We will reduce the rates on our bank Base Rate tracker mortgages from 1 September 2016.

We will write directly to any customers who are affected with the details of the new monthly repayment.

Changes to Our Savings Rates

As a result of the Bank of England 0.25% August 2016 rate reduction, we are making changes to the interest rates which we pay on our savings accounts.

The rate changes will be effective from 1 October and we will not reduce any savings rate by an amount greater than 0.25%.

We will write directly to any customers who are affected by the change.

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Welcome to Furness Building Society

Furness Building Society was established in 1865, and originally began by playing a vital role for those in what is now South Cumbria and Furness peninsula, by helping them buy their own homes and providing a safe place for their savings.

We are run for the benefit of our members and their communities, and we stay competitive thanks to being a mutual, and not needing to pay dividends to shareholders.  As our strapline says ‘we always have your interest at heart’ and we do not take major risks with our members money.  In almost 150 years we have never made a loss.

Today, we have a branch and agency network covering the whole of the North West of England, and we service customers across the UK though our direct business channels, such as Furness Direct and our website.

We believe in traditional customer service, for example, if you want to call a branch direct you can do so without needing to use a contact centre.  We ensure we remain competitive, and it is for this reason Mortgage Finance Gazette has awarded Furness Building Society Best Regional Building Society for 2013 and 2014. 

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