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 Inland Revenue 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 and participates in the Financial Services Compensation Scheme. We also subscribe to the Banking Code, copies of which are available on request.

Charitable Assignment

IMPORTANT INFORMATION FOR CUSTOMERS OPENING AN INVESTMENT ACCOUNT

At Holmesdale Building Society we aim to give the highest level of service to all our members. As a mutual organisation we have had some disruption to our normal business caused by speculators. These people open a savings account in the hope of receiving future windfall conversion benefits. This is despite the assurances we have given for many years that we are committed to remaining a mutual organisation and have no plans to change.

To avoid any further disruption to our business we have introduced a new requirement for new investment customers. This will enable us to provide the level of service our genuine members expect and deserve.

All new savers opening share accounts must sign a declaration agreeing to assign to the Charities Aid Foundation, any future windfall rights to which they become entitled during the period of five years from the date of opening the account. The assignment will relate to any new account opened by the saver during the five year period unless the member is exempt.

This agreement will not apply to anyone who has held and continues to hold a share account with the Society since before 2nd May 2000.

There are some other types of customer who are not affected by the requirement to assign and a list of those is available from the Society's Secretary.

The above notes are only a summary of the charitable assignment arrangements. The complete terms are in our new account application forms.

The Charities Aid Foundation is a charity, which channels charitable giving to worthy causes.