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Review of the Family Building Society, Savings:

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To slow unless it suits them

Building society is way to slow to raise interest rates inline with the Bank of England, though matches the Bank of England when the rates are reduced. Bit stingy! Reviewed on: 16th November 2022

Reply from Family Building Society Thank you for your comments and I’m sorry for your dissatisfaction. Changes in the Bank of England Bank Rate are only one of the factors that we must consider. In view of our size, we are price-takers in both the mortgage and savings market, and we have to balance the demand from savers for higher rates, against our ability to earn higher rates from our borrowers. We will review our savings rates again shortly. Should you need any further help please don’t hesitate to contact us by emailing [email protected] or calling our Family Service Team on 03330 140144. Response date: 18th November 2022

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