Penrith Building Society

Penrith Building Society News & Information.

March 2011 Penrith Building Society Mortgages are subject to status. Only available to those aged 18 and over and mortgages not available in Scotland.

Penrith Building Society Financial Results Year ended 31/12/2009.

After 2008’s record figure of £15.66m mortgage lending in 2009 was a disappointing £5.91m. There were again no repossessions in the year and there were only 3 mortgages over 12 months in arrear and the total amount of arrears in these cases was £43,652 on balances totalling £269,881. During 2009 mortgage lending totalled £5,917,174. There were 95 advances, including 30 further advances.

Mortgage balances reduced by 5.74% over the year. The Penrith Building Society experienced growth of 4.60% during 2009 with total assets increasing from £84,973,927 to £88,884,985.

Profit after tax was £336,981 (2008 £ 147,699).

Penrith Building Society Directors' Remuneration year ended 31/12/2009

Name

Salary

Bonus

Pension

Totals

C Hayward

70,407

84,000

154,047

P Richardson

61,942

6,200

68,162

6 Non Executive Directors

60,219

60,219

Totals

282,428

About Penrith Building Society.

Penrith Building Society was founded in 1877 by a philanthropic group of citizens to help local people look after their money and buy their own homes.

The Head Office is

Penrith Building Society,

7 King Street,

Penrith,

Cumbria,

CA11 7AR.

Penrith Building Society Mortgages & Savings Accounts.

Today the mutual society provides savings accounts like a cash isa, The Beacon Instant Access Savings account that provided instant access provided the balance left after withdrawal is at least £10000. Otherwise 90 day notice or 90 day loss of interest. Eden 90, 90 day notice of withdrawal or 90 days loss of interest and an Instant Access account. Mortgages - For mortgages on properties outside the Society’s local area (i.e. Cumbria), the maximum loan to value is 75%. At the present time the maximum loan that the Society will consider within the local area is 90% of the value of the property. You should contact the Society to ascertain the maximum loan to value ratio available in any particular case.

penrith building society