Shepshed Building Society News.

This mortgage product is only available for first time buyers purchasing residential property for their own use, in England and Wales. It is not available on new build properties, flats or apartments or for properties in London (within the M25 boundary). Applicants applying for this product will be required to fully meet the Shepshed Building Society’s lending criteria.


Shepshed Building Society Review.

Shepshed Building Society dates back to 1879. The Head Office Shepshed Building Society, Bull Ring, Shepshed, Leicestershire, LE12 9QD.

They currently have branches at -

Loughborough Branch - 9 Churchgate Mews, Biggin Street, Loughborough, Leicestershire, LE11 1TZ.

Ruddington Branch - 33 High Street, Ruddington, Nottingham, Nottinghamshire, NG11 6DW.

They offer a number of products including

Mortgages- Standard Variable Rate (SVR), Two Year Discount Mortgage (3% below SVR for 2 years), Buy to let Mortgages and Homebuyer Direct Mortgages.

Savings Accounts-Instant Access Account, Tracker Instant Access Account, 28 Day Share Account, 90 Day Share Account, 120 Day Share Account, Sapphire 50+ Account, Childs Star Account, Fixed Rate Bonds, ISA Account, Postal Account and Child Trust Fund.

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

Profit after tax £244,000 (£168,000)

Assets £88,524,000 (£93,236,000)

Executive Directors Pay £231,000 (£220,000)

Non Executive Directors Pay £96,000 (£70,000)

During the year the Shepshed Building Society saw total gross mortgage balances decrease to £64.4 million (£69.4 million) and provisions for bad debts was £497,000. Savings account balances dropped to £69 million (£74.8 million). There were 12 mortgage accounts with 12 months or more arrears with total outstanding balances of £1,231,255 and arrears of £89,882.

Management expenses as a percentage of mean total assets was 1.39%.