About The Loughborough Building Society.
The Loughborough Building Society has a history dating
back to 1867 when it was started by local businessmen. Today they offer a range
of savings products, mortgages and insurance and as well as the head office
have 3 branches and 3 Agency offices. They are a member of the building
societies association and regulated by the FSA (FSA Reg. No: 157258).
Loughborough Building Society Information.
Head Office - Loughborough Building Society, 6 High
Street, Loughborough, LE11 2QB. Tel: 01509 610707.
Branch Offices –
Babington Lane, Derby,
DE1 1SU.
4 High Street,
Loughborough, LE11 2PY.
5 Market Place, Long
Eaton, NG10 1JL.
Loughborough Building Society Products
Savings Accounts – Instant Access, Over 50’s, 30 day
Notice Savings Account, Cash ISA, Affinity Account, Young Saver and a postal
account. (Some savings accounts are only available to those living in LE, NG
& DE postcodes).
Mortgage Accounts - Fixed Rate: monthly repayments are
fixed at a certain level for a specified period of time. At the end of the
fixed rate period, your repayments will normally move on to the standard
variable rate. Discounted Rate: monthly repayments will be reduced by a set
percentage, off the standard variable rate, for the period of the discount. Your
repayments may go up and down, but the discount remains during the agreed
period. At the end of this period, your repayments will normally move on to the
standard variable rate and Standard Variable Rate Mortgages.
Insurance – Buildings and Contents Insurance, Life
Insurance, Landlords Insurance and Funeral insurance they also provide Finacial Planning and
Investments (including bonds, stocks and shares).
Financial Results Year Ended 31/11/2010
For the year the Loughborough Building Society made a
profit after tax of £688,000 (£384,000).
Mortgage Lending – Gross lending in the year totalled
£24.50m representing an increase of 10.46% compared to 2009.Overall, mortgage
balances after provision for losses fell by 3.64% in the year reflecting the
subdued lending market nationally. There is an expectation that levels may rise
in 2011 and the Board has increased the provision for mortgage losses by
£170,000 to reflect the risks and uncertainties in the property market. The
total number of mortgages completed during the year was 205 plus 78 further
advances on existing accounts. At the end of the year, there were 8 cases
(2009: 5 cases) where mortgage repayments were twelve months or more in
arrears, the amount of those arrears being £45,934 and the mortgage balances £605,014.
There were 4 cases in possession at the year end, (2009: 1 case).
Savings – Share The Loughborough Building Society
offers a range of competitive products to new and existing members, resulting
in continued growth in share balances, rising to £232.7m at October 2010.
Loughborough Building Society Directors
Executive Directors – G Brebner, C G Bradley, Mrs C
Joyce.
Non Executive Directors – S P Mellors, J P Jessop, Mrs
C D Cliiford, I J Webb and D T Bowyer.
Membership Numbers – The Loughborough has 2,553
borrowing members and 28,117 investing
members.
Other information – website theloughborough.co.uk
