Profile and History of Newcastle Building Society

Established 1861. Merger between the Grainger and Newcastle Permanent Building Societies in 1980 resulted in what today is called the Newcastle Building Society. In 2006 Universal Building Society merged with Newcastle Building Society with minimum payout of £400 to qualifying Universal members. Head Office Newcastle Building Society Portland House New Bridge Street Newcastle upon Tyne NE1 8AL Tel 0191 244 2000 Branches England 34 Scotland 1 Gibraltar 1

Newcastle Building Society Financial Results year ended 31/12/2008

The Newcastle Building made a loss for the year before tax of £35,700,000 as against a profit the previous year of £17,600,000. This loss included the fscs levy fee of £6,800,000. Impairement losses were £44,700,000 of which £43,000,000 related to losses from exposure to the failed Icelandic banks in the last quarter of 2008. At the end of the financial year residential loans had an arrears level of 0.96% of the outstanding balances. The average loan to value figure across the mortgage book was 50.6%.  Highlights of the year Retail share balances rose 13% to £3.3 billion Wholesale funding reduced to 27.9% as against 32.56% the year before 86% of loans funded by retail deposits as against 77% year before. Due to the impairement losses in december the newcastle building society issued £10,000,000 of Permanent Interest Bearing Shares to private investors.This issue raised the solvency level to 11.9% as against 11.2% at the end of 2007 under Basel 1.

Newcastle Building Society Directors' Remuneration
Name	Salary	Bonus	Benefits	Pension and Life Contributions	Totals
C.Greaves	129,000	-	9,000	4,000	142,000
W.Lee	139,000	-	13,000	3,000	155,000
C.J.Seccombe	258,000	-	30,000	6,000	294,000
J.Westhoff	155,000		44,000	-	199,000
Newcastle Non Executive Directors
9 Non Executive Directors during the year	274,000			2,000	276,000
Total	955,000		96,000	15,000	1,066,000

Newcastle Building Society Product Range

The Newcastle offers a range of products. For savers a variety of easy access accounts, ISAs, notice accounts and bonds are available. On the mortgage side Newcastle offers fixed rate, base rate trackers, first time buyer, offset, standard variable and discounted mortgages. They can also supply insurance including travel insurance, home insurance and mortgage protection insurance.