Newcastle Building Society latest news
18.06.2010 New savings account from Newcastle Building Society-3 year fixed rate bond 3.15% AER. 2 year fixed rate bond 2.95%.

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 Directors' Remuneration year ended 31/09/2009
Name
Salary
Bonus
Benefits
Pension and Life Contributions
Totals
C.Greaves
130,000
-
9,000
2,000
141,000
W.Lee
141,000
-
13,000
2,000
156,000
C.J.Seccombe

260,000

-

22,000

4,000

286,000

J.Westhoff

52,000

 

15,000

-

67,000

G.Wilkinson

64,000

 

21,000

-

85,000

Newcastle Non Executive Directors
         
9 Non Executive Directors during the year
256,000
     
256,000
Total
       

991,000

Newcastle Building Society Product Range
The Newcastle offers a range of products. For savers a variety of easy access accounts, ISAs, notice accounts and fixed rate 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 from Legal & General, mortgage protection insurance and life insurance.


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%.

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.

Older News

17.10.2009 Newcastle Reward Saver up to 3.00% gross
03/06/2009 Newcastle Building Society new instant access savings account 2.50%

24/04/2009 Newcastle Building Society launch 1 year fixed rate bond 3.61% minimum investment £5,000
16/04/2009 Moody's downgrade Newcastle Building Society credit rating two notches from A3 to Baa2.
07/04/2009 3 Year Fixed Rate E-Bond launched minimum investment £5,000 4.11%


Newcastle Building Society savings accounts and mortgages. best savings rates uk building societies