Important Information

Mortgages

All mortgages are subject to appraisal of a borrower’s financial standing and status and are only available to persons aged 18 and over.

Savings

Interest will be paid net of the lower rate of income tax, currently 20%, or, subject to the required HM Revenue & Customs certification, gross. Where tax deducted exceeds an investor's tax liability (if any), some or all of this tax may be reclaimed from the Inland Revenue.

The Holmesdale Building Society is a member of the Financial Ombudsman Scheme.

The Holmesdale Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000.

Payments under the Scheme are limited to a maximum of £50,000 of an investor's total shares and/or deposits. Most investors are covered, including individuals and small firms. However, there are a small number of exclusions and these can be found on the following link http://fsahandbook.info/FSA/html/handbook/COMP/4/2. Further details are available on request from the Society or via the FSCS website http://www.fscs.org.uk.

Charitable Assignment

IMPORTANT INFORMATION FOR CUSTOMERS OPENING AN INVESTMENT ACCOUNT

If you had an account with the Society on 1st May 2000 and have kept a savings account with us ever since then, the following does not apply to you.

By applying to open a share account on or after 2nd May 2000 you agree with the Society and the Charities Aid Foundation (“the CAF”) that you will assign to the CAF (or to any charity(ies) nominated by it or by the Society under the provisions of a deed dated 28th April 2000 between the Society and the CAF, in which case references to the CAF shall include references to any other charity(ies), but to no other person) the rights to any relevant conversion benefits (defined below). This obligation will not apply to you if you fall within any class of persons which the Society wishes to be excluded from such obligation. This agreement is irrevocable and authorises the Society to transfer to the CAF any such benefits without further notice to you. You understand that neither the Society nor the CAF will release you from this agreement or vary its terms and (except as set out in 16.3 below) you will continue to be bound by the above condition even if the Society decides at some time in the future (and announces any such decision by press release or otherwise) that it is no longer in the best interests of the Society to continue with the above assignment condition generally in respect of new members.

Relevant conversion benefits means any benefits to which you might become entitled as a share holding member of the Society under the terms of any future transfer of the Society's business to a company (i.e. on a conversion or takeover) which is completed at any time within the five years immediately following the date on which your share account is opened (or, if applicable, the shorter period as set out in the list available from the Society’s Secretary). Relevant conversion benefits does not include the statutory right to have shares in the Society (including any balances on share accounts) converted into deposits with the company on a conversion or takeover.

If the Society merges with any other society, after the date of such merger the Society includes such other society.

A list of the classes of persons which the Society currently wishes to be excluded from the obligation to assign or in respect of which a shorter period applies (which list may change from time to time but not with retrospective effect) is available on request from the Society’s Secretary at its principal office.