Events and news


Stafford Railway Building Society Launches New Low Deposit Mortgage Products

STAFFORD RAILWAY BUILDING SOCIETY EXTENDS MORTGAGE RANGE BY LAUNCHING TWO NEW DISCOUNTED PRODUCTS.

  • 2.35% Three Year Discounted First Time Buyer – Low Deposit Mortgage, with £250 cashback to local borrowers (subject to postcodes)
  • 2.35% Three Year Discounted Home Movers – Low Deposit Mortgage
  • Standard Variable Rate reduced by 0.25% from Saturday 1 October to 2.95%

Stafford Railway Building Society launches two new mortgage products to expand their range, aimed at supporting first time buyers and home movers.

The First Time Buyer – Low Deposit Mortgage allows first time buyers to borrow up to 90% loan-to-value (LTV), for 3 years from completion at 2.35% – a discount of 0.60% from the Society’s standard variable rate (SVR). The Society is providing first time buyers based within the local area £250 cashback based on postcode location. The mortgage comes with no product fee.

The Society offers the same rate for home movers with the Home Movers – Low Deposit Mortgage up to 90% LTV, for 3 years from completion at 2.35% – a discount of 0.60% from the Society’s SVR, which comes with no product fee.

Both of these new mortgages have an early repayment charge, if more than 10% of the balance is repaid in each of the first three years. They are available throughout England and Wales on purchases only.

 “It is still proving extremely difficult for people who want to buy their first home to get onto the property ladder, or for those with changing housing needs to move on to their next home”, said Susan Whiting, Chief Executive. “With these two new products we aim to play our part in helping these aspiring home owners.”

All mortgages will be available direct from the Society and through the Society’s broker network.

From 1 October the Society will pass on the full Bank of England rate reduction to all residential mortgage borrowers.

Further information about Stafford Railway Building Society mortgage and savings products, including terms and conditions can be found at www.srbs.co.uk or by contacting the Society on 01785 223212.


 

Stafford Railway Building Society joins Legal & General Mortgage Club

SOCIETY WILL DISTRIBUTE FULL RANGE OF RESIDENTIAL AND BUY-TO-LET MORTGAGE PRODUCTS THROUGH MORTGAGE CLUB

Stafford Railway Building Society has announced it has joined Legal & General Mortgage Club.

Stafford Railway will now distribute its full range of residential and buy-to-let mortgage products through the award winning Mortgage Club. The move sees Legal & General become the first mortgage club to offer full access to Stafford Railway’s mortgage products.

Emma Parker, Business Development Manager says;

“We are delighted to sign up to Legal & General Mortgage Club as we continue to develop our relationships with brokers. This deal is an integral part of the Society’s plan to expand our mortgage range and distribution.

 Our straightforward and competitive products are individually underwritten, include no fees and allow customers to borrow up to their 85th birthday, subject to our lending criteria. We believe this, alongside our personal service and 24 hour Agreement In Principle will make our mortgage range desirable to brokers”.

 Jeremy Duncombe, Director, Legal & General Mortgage Club commented:

 “At Legal & General Mortgage Club we strive to add value to our members by ensuring they can provide a holistic service to customers. Adding new lenders to our panel is only done where we see a lender bringing something new or different, to add value, so we are delighted to be working with Stafford Railway in order to do this”

The Society’s full mortgage range is now available through Legal & General Mortgage Club and directly through the Society by contacting 01785 223212 or visiting www.srbs.co.uk

 


Stafford Railway Building Society To Cut Standard Variable Rate to 2.95%

STANDARD VARIABLE RATE FOR RESIDENTIAL MORTGAGE PRODUCTS WILL FALL TO LOWEST IN COUNTRY TO 2.95%

Following the recent announcements by the Bank of England, Stafford Railway Building Society will pass on the full Bank of England interest rate reduction to all residential mortgage borrowers from 1 October 2016.

The change will see the Society’s residential borrowers receive a cut of 0.25% on the Society’s Standard Variable Rate (SVR). For most borrowers this will reduce the rate from 3.20% to 2.95%.

The Society currently holds the lowest SVR in the country for mortgages up to 75% LTV (as of 11 August, Moneyfacts Residential Mortgage Analyser and rates of up to 75% LTV), with this cut lowering the rate further.

The rate cut will be available to new and existing borrowers.

Susan Whiting, Chief Executive of Stafford Railway Building Society said:

“The action we are taking in reducing the standard variable rate across our residential mortgage range benefits both our existing members and new borrowers. As a Society we provide simple mortgage products that are available at competitive rates with no product fees. Also, we continue to support individuals who want to borrow past their retirement age, with our entire range of residential mortgages available to repaid by their 85th birthday”

The Society aims to inform all members about rate changes to their mortgage products by 1 September.


 

New £5 Bank Notes Launched

From Tuesday 13 September new £5 bank notes will be launched into circulation.

Bank of England New Fiver

Identifying the New £5 Bank Note

The bank notes will be printed on polymer, a thin and flexible plastic material. Polymer notes are cleaner, safer and stronger than paper notes.

You may notice the new notes will be smaller than the current notes and will feature Sir Winston Churchill.

How Long Can I Use My Old £5 Notes?

Once the £5 note has entered circulation it will be gradually withdrawn by the Bank of England. If, after May 2017, you find you still have some paper £5 notes you will be able to exchange them at the Bank of England. But until then carry on spending paper £5 notes as usual.

If you have any further questions please ask a member of our staff or find more information on the Bank of England dedicated web site: www.thenewfiver.co.uk


Stafford Railway Building Society Members and Staff Support Staffordshire Women’s Aid

Building Society members and employees join together to donate over 100 items to local charity, Staffordshire Women’s Aid

Stafford Railway Building Society Supports Women's Aid

Monday 25 July– Members and employees of Stafford Railway Building Society have joined together to collect essential toiletries for women and children to support local charity Staffordshire Women’s Aid.

The collection, held at the Society’s Head Office in Market Street since February, has seen considerable contribution from both staff and members including toiletries, baby grows, baby wipes and nappies, toys and clothes, with many members bringing more than one gift. The collection is part of the Society’s ongoing commitment to work with local charities.

Stafford Railway Building Society had chosen to support Staffordshire Women’s Aid following the charity’s drive to raise funds for the newly opened ForWard House refuge, which has seen a brand new £80,000 investment to fully equip and furnish 12 flats, a children’s play room, teenagers room, outdoor play area and communal facilities for women and children fleeing domestic violence in Staffordshire.

The collection was organised and presented by Stafford Railway Building Society cashier, Linda Stacey, who commented:

The response from our members and staff has been overwhelming. We have collected over 100 items for Women’s Aid with items ranging from small items like shampoo and soap, through to brand new baby grows and t-shirts. The Society has a long history of supporting the local community, and the items collected for Women’s Aid will make such a difference to a very worthy cause.  Both I and the Society would like to thank everyone for their generosity.”  

Dickie James, Chief Executive Officer of Staffordshire Women’s Aid said:

“This is incredible community support from Stafford Railway Building Society, its members and its customers. As a local charity, we depend on the generosity and goodwill of our local communities, to enable us to meet the needs of vulnerable women and children who need our help. These donated items will make such a positive difference to their lives. We would like to express our sincere thanks to everyone who has contributed, helping us to make ForWard House a safe haven for women and children forced to flee domestic violence”

You can find further information regarding donations and fundraising opportunities at www.staffordshirewomensaid.org


Brexit: Business As Usual

Dear Members

Amongst all the debate and political uncertainty surrounding the result of the recent referendum, I’m pleased to say that it’s business as usual here at The Stafford Railway Building Society.

As we do not invest in equities or assets in foreign currencies, changes in the currency markets and stock exchange have no direct effect on our balance sheet.

As the Chairman of the Building Societies Association, Dick Jenkins, has said, Mortgages are available and retail savings are safe, exactly as they were before the referendum.

Susan Whiting
Chief Executive


Stafford Railway Building Society Vice Chairman Receives MBE

June 2016

Stafford Railway Building Society Vice Chairman, David Gage, has been recognised with an MBE in the 2016 Queen’s Birthday Honours List.

Mr Gage, who has been a Non-Executive Director with Stafford Railway Building Society for 9 years, was honoured for his for services to business and higher education for his role as chairman of governors at Staffordshire University.

Mr Gage said: “I am humbled and privileged to receive such an award, even more so as it coincides with the Queen’s 90th birthday. My involvement with Staffordshire University is based on two fundamentals. Firstly, that higher education should be accessible for all and secondly to ensure that the university’s academic wealth is recognised as an important contributor to the success and prosperity of the region of Stoke-on-Trent and Staffordshire.”

Susan Whiting, Chief Executive of Stafford Railway Building Society congratulated David on his achievements:

“I would like to congratulate David on the tremendous service he has given to business and education in Staffordshire, including his role at Stafford Railway Building Society.  It was fantastic news to hear David had been recognised as part of the Queen’s 90th Birthday Honours, and it is thoroughly deserved.”


News archive

We’ve also been busy in the news recently, you can read our latest press releases here.

Stafford Railway Building Society Members and Staff Support Staffordshire Women’s Aid -July 2016

Post Budget Analysis – March 2016

Stafford Railway BS Annual Results – 2015
Remembrance Day – November 2014
Members’ satisfaction survey results – October 2014
New mortgage rules prove local Society right – May 2014
Stafford Railway BS Annual Results – January 2014
Local mutual demystifies mortgage rate maze – September 2013
Mutually beneficial 50% mortgage offers rise – June 2013
Mortgages arranged much quicker – and with no fees – April 2013

YOUR MORTGAGE IS SECURED ON YOUR HOME, WHICH MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

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