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by the following authors: 'Simon Rex'

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Mortgage applications: looking at life events

Factsheet,
Contact:
simon rex,
Last updated:
27 November 2013

Guidance for mortgage applicants in relation to future changes/ life events    Who produced this guidance? This guidance was produced by the Council of Mortgage Lenders (now part of UK Finance) and the Building Societies Association (BSA). UK Finance and the BSA are i...

Solar panels

Factsheet,
Contact:
simon rex,
Last updated:
01 August 2013

Guidance With electricity prices rising, homeowners are seeking alternative forms of energy. One business model which has sprung up to meet this need involves a company placing photovoltaic panels on a homeowner's roof and providing electricity to them from the panels, ...

Tips on dealing with debt

Factsheet,
Contact:
simon rex,
Last updated:
15 October 2013

How to deal with debt Don’t panic! And don’t ignore the problem, it won’t go away. Talk to your creditors and let them know you are having problems. Don’t take out additional credit or add to existing credit, like your credit cards - you’ll only get yourself ...

Are my savings safe with a building society?

Factsheet,
Contact:
simon rex,
Last updated:
12 February 2019

Savers are protected under the Financial Servies Compensation Scheme (FSCS) to a current limit of £85,000. The compensation limit applies to each saver for the total of their savings with a building society or other mutual deposit taker, regardless of how many accounts they h...

Basic bank accounts

Factsheet,
Contact:
simon rex,
Last updated:
15 October 2013

What is a basic bank account? A Basic Bank Account allows you to receive money and pay bills. However, this kind of account does not allow you to go overdrawn by more than £10, if at all. A Basic Bank Account can be the first step towards opening a regular current accou...

Help to Buy ISA

Factsheet,
Contact:
simon rex,
Last updated:
20 February 2019

From 1 December 2015 a new type of ISA was made available to help first time buyers save for a deposit. The March 2015 Budget announced the Help to Buy ISA. The scheme works by providing a government bonus to each person who has saved into a Help to Buy ISA at the point they...

ISAs - Individual Savings Accounts

Factsheet,
Contact:
simon rex,
Last updated:
06 April 2021

Cash ISAs are the main cash-based tax-free savings product offered by building societies and they are a particular strength of building societies, with the sector regularly having over 35% of the market. An Individual Savings Account (ISA) is not a product in its right but...

Junior Individual Savings Accounts (JISAs)

Factsheet,
Contact:
simon rex,
Last updated:
06 April 2021

Junior ISAs were introduced in November 2011 as a replacement to Child Trust Funds. Junior ISAs have the following key features: All UK resident children under the age of 18 who do not have a CTF are eligible for Junior ISAs. All returns are be tax-free.  Both cash and...

Lost a savings account?

Factsheet,
Contact:
simon rex,
Last updated:
23 April 2015

Through the BSA website you can trace savings that you have lost touch with. It is also possible to trace another person's lost account if you are legally empowered to do so. This web-based tracing service is FREE and operates through: mylostaccount.org.uk Mylostacco...

Obtaining additional ISA allowances following the death of your spouse or civil partner

Factsheet,
Contact:
simon rex,
Last updated:
05 February 2019

In the 2014 Autumn Statement it was announced that ISA allowances could be passed on to surviving spouses/ civil partners when a saver dies.  Under the old rules, if a saver with an ISA died, the tax benefits fall away on death and the holdings are added to his/ her estate. ...

Payment methods

Factsheet,
Contact:
simon rex,
Last updated:
27 January 2019

This factsheet explains the main methods of making payments in the UK. More information is available on the Pay Your Way website. Plastic cards Debit Cards When you use your debit card the money you spend is taken directly from your current (or in some cases, saving...

Proving your identity

Factsheet,
Contact:
simon rex,
Last updated:
15 October 2013

By law, all banks, building societies and other businesses providing financial services have to check the identity of anyone who wants to open an account or buy any financial product/service from them. This is one of the procedures that they have to undertake under the Money ...

Personal Savings Allowance

Factsheet,
Contact:
simon rex,
Last updated:
06 April 2021

The introduction of the new personal savings allowance means that from 6 April 2016 most people no longer pay tax on their savings income. The allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. (There is no allowance for additional rate taxpayers...

What is the difference between a building society shareholder and a depositor?

Factsheet,
Contact:
simon rex,
Last updated:
25 January 2016

People and institutions investing in building societies can be divided into two categories - the depositor and the investing member (or shareholder). Depositors are not members of the society and have no say in its running. Shareholders, as members, have the right to recei...

You and your joint account

Factsheet,
Contact:
simon rex,
Last updated:
23 July 2017

Joint accounts are useful where the finances of two people are closely linked. But with the added convenience come extra responsibilities, some of these are important and may not be obvious. This leaflet explains some of the things to look out for. This leaflet covers persona...