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Alison Turner

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Review of the Newbury Building Society, Mortgages:

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Good start, bad ending

Initially used NBS to purchase our first home back in 2011. At the time you offered a mortgage for shared ownership properties where we only needed a 5% deposit. Fantastic way to help you get on the property ladder. Your interest rates are not that competitive. However when we purchased the remaining half of the house in October 2016 we stayed with you as you provided good advice and a stress free transaction. Our interest rate was on a 3 year deal expiring October 2019. So far so good but unfortunately we have left NBS feeling very disappointed. On the 25th September 2019 we sold our house and changed provider as at 1.68% fixed NBS just couldn’t compete. We had less than 1 month of our 3 year offer so I find your early repayment charges of £1891.46 absolutely disgusting! Not only have we had a high interest rate over the last 8 and half years that fee came as a bit of a shock. Happy to pay fee to leave 3 and half weeks early but I think that is a little extortionate! Such a shame that you feel that’s acceptable Reviewed on: 4th October 2019

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