Manchester Building Society News.

January 2011 Manchester Building Society has sold its commercial bank Whiteaway Laidlaw to an investment fund managed by RBS Equity Finance. The sale process is believed to have been ongoing for the past eight months. Whiteaway Laidlaw was bought by Manchester Building Society in January 2007 from Home Retail Group for £5m. The value of the sale was not disclosed.

Manchester Building Society.

Manchester Building Society was formed in 1922 Head office address is Manchester Building Society Group, 125 Portland Street, Manchester. M1 4QD.  

They have a branch at Manchester Building Society, Queens Court, 24 Queen Street, Manchester, M2 5HX.

They offer a number of products including

Mortgages- If you are looking for a mortgage the underwriting criteria is The minimum age they will lend to is 25 years. (Please check current product details for criteria as a higher minimum age may apply)The maximum age at the end of the mortgage term is 70 years. Manchester Building Society only lends in England and Wales. Mortgages can be on the following basis; Capital and Interest Repayment, Part Capital and Interest and part Interest Only up to a maximum of 70% LTV and Interest Only up to a maximum of 70% LTV.

Savings Accounts- Premier ISA Issue 16, Premier Instant ISA Issue 4, Fixed Rate Cash ISA Issue 8, Premier Instant Issue 8,  Premier Notice Issue 24 and some Fixed rate bonds.

For the year ended 31/12/2010 The Financial Results for Manchester Building Society Group were 2009 figures in (brackets)

Profit £492,000 (£459,000)

Assets £893,834,000 (£937,320,000)

Executive Directors Pay £715,000 (£679,000)

Non Executive Directors Pay £199,000 (£203,000)

The Manchester management expense ratio reduced from 0.59% to 0.51% and the results showed impairment losses of £1,379,000.

manchester building society.