About Newcastle Building Society.
The Newcastle Building Society's roots go back to 1861,
although the current name is the result of a merger between the Grainger and
Newcastle Permanent Building Societies in 1980. In 2006, they merged with
another Newcastle-based society, the Universal Building Society. They are
authorised and regulated by the FSA and are members of the Building Societies
Association.
Newcastle Building Society Information.
Head Office - Newcastle Building Society, Portland
House, New Bridge Street, Newcastle upon Tyne, NE1 8AL.
Branches - They currently have 30 branches across the
UK and a branch in Gibraltar.
Savings Accounts include 1 and 5 Year Fixed Rate ISA’s,
1 and 5 Year Fixed Rate Bonds, Easy Access Savings Accounts including, Online
Easy saver, Direct Saver Plus, Newcastle 55, Big Little Saver and
Monthly/Regular Saver and Variable Savings Accounts like Super Saver.
Mortgages include Base Rate Trackers, Fixed Rate,
Variable Rate and Offset Mortgages.
Insurance products include Legal & General Home Contents
and Buildings Insurance, mortgage payment protection insurance and family
protection with life insurance.
Financial Results Year Ended 31/12/2010
Loss after tax of £3.1 million (2.1
million 2009).
Savings - Savings balances reduced by 5% in 2010. The
Newcastle Building Society continues to attract around a third of its savings
accounts in the form of ISAs.
Mortgages - The credit quality of the lending book
remains satisfactory with a total of 40 (2009: 38) properties in possession at
the end of the year and only 0.40% (2009: 1.17%) of the total mortgage
portfolio balance with arrears of more than 3 months. At 31 December 2010, 36
(2009: 61) mortgage accounts were 12 or more months in arrears. The balances on
these accounts amounted to £2.3m (2009: £24.3m) and the total amount of arrears
in these cases was £1.1m (2008: £0.3m);
Other - At 31 December 2010 the Society had no
exposures to Portugal, Italy, Ireland or Greece. Investments with Spanish banks
totalled £8m of which £5m has been repaid subsequent to the year end. The
remaining £3m is held with a AA rated Spanish bank with a major UK presence.
Executive Directors - AM Russell, JH Warden and JH
Willens.
Non Executive Directors - CJ Hilton, DJ Buffham, AM
Cairns, FD Holborn, RD Mayland, RJ McCormick, CRR Vine-Lott and NA Westwood.
Newcastle Building Society has 33,905 borrowing members
and 375,124 savings members.
Website newcastle.co.uk.
