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
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Newcastle Building Society Directors' Remuneration year ended 31/12/2010 |
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Pension and Life Contributions |
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C.Greaves
resigned 31/07/2010 |
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JH Warden
appointed 07/10/2010 |
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C.J.Seccombe
retired 12/03/2010 |
54,000
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-
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3,000
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57,000
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72,000
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5,000
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7,000
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84,000
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G.Wilkinson
resigned 09/04/2010 |
11,000
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1,000
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12,000
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Newcastle Non Executive Directors |
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9 Non Executive Directors during the year |
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970,000
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JH Willens also received £78,000 relocation costs and G Wilkinson £9,000.
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Newcastle Building Society Financial Results year ended 31/12/2010 |
The Newcastle Building Society made a loss after tax for the year of £3,7000,000 .
The interest margin dropped to 0.40 from 0.42.The overall net impairment charge for loans and advances was
£1.8 million. A provision of £4 million was made for redundancy costs and fees relating to business simplification.
The average loan to value on residential mortgages was 55.8% and 0.75% of residential mortgages were 3 months or more in arrears.
11 homes were repossed during the year. Buy to let mortgage repossessions totalled 28 from 14 borrowers. Savings balances
reduced by 5% and around one third of the newcastles savings come in the form of ISA savings accounts.
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Newcastle Building Society Financial Results year ended 31/12/2009 |
The Newcastle Building made zero profit for the year but this was an improvement on the loss for
the previous year of £35,700,000 before tax.Thisd included the fscs levy fee for the year of £1,300,000.
The interest margin dropped to 0.42 from 0.79. The overall net impairement charge for loans and advances fell
to £8 million. Arrears on residential lending improved to 0.86% and retail savings balances grew by 15%.
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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.
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Newcastle Building Society Product Range |
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