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November 28, 2015 2:04 PM ET

Diversified Financial Services

Company Overview of Newcastle Building Society

Company Overview

Newcastle Building Society, a building society, provides mortgage, savings, investment, and insurance products to members and customers in the United Kingdom. The company operates through Member Business and Solutions Business segments. Its savings and investments products include easy access accounts, cash individual savings accounts (ISAs), fixed rate bonds, children’s accounts, member exclusives, Sir Bobby Robson Foundation ISAs, Newcastle junior ISAs, and Newcastle big home savers. The company also offers fixed, variable, and tracker mortgages; financial planning services comprising funeral, inheritance tax, and wills and estate planning services; and home, life protection, and landlords...

Portland House

New Bridge Street

Newcastle upon Tyne,  NE1 8AL

United Kingdom

853 Employees


44 19 1244 2000

Key Executives for Newcastle Building Society

Chief Executive and Executive Director
Age: 52
Finance Director, Deputy Chief Executive and Executive Director
Age: 48
Group Secretary
Strategy, Planning & Risk Director and Director
Age: 46
Compensation as of Fiscal Year 2015.

Newcastle Building Society Key Developments

Newcastle Building Society Launches All in One, a New Mortgage Product for House Purchase

Newcastle Building Society has launched All In One, a new mortgage product for house purchase. Newcastle Building Society's (NBS) 'All In One' product aims to ease what is recognized as a stressful and expensive part of the home purchase situation by launching a mortgage product that covers all set-up fees including legal fees on both remortgages and house purchases. The size of standard conveyance fees can often take home buyers by surprise adding unexpected cost into the financing element of Home Ownership. The Society has reviewed the typical legal costs incurred by the borrower and has designed a product which covers all of these costs developing a unique proposition for new house purchase and an extension to its current remortgage product range. Alongside no legal fees the new product also includes no valuation fees and product fees have been scrapped too, these fees can add a hefty amount onto the initial cost of moving home or re-mortgaging. The 'All In One' product aims to help customers budget better by taking care of all the setting up costs of taking out a mortgage but also deliver a value for money and competitive rate of interest. Also as part of the 'All In One' product, will instruct one of NBS' approved Solicitors on the borrowers' behalf to arrange completion of purchase or remortgage - taking away all the hassle and speeding up the process on the way. The product offers a 2.59% (5.4% APR) two year fixed rate which is available up to a maximum of 80% loan to value (LTV).

Newcastle Building Society Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015

Newcastle Building Society announced unaudited consolidated earnings results for the six months ended June 30, 2015. For the period, the company reported net interest receivable of £13.4 million compared to £12.5 million a year ago. Total operating income was £24.3 million compared to £23.6 million a year ago. Operating profit before impairments and provisions was £6.1 million compared to £5.9 million a year ago. Profit before taxation was £1.5 million compared to £0.8 million a year ago. Profit after taxation for the financial period was £1.1 million compared to £0.6 million a year ago. Net cash flows used in operating activities were £77.7 million compared to net cash flows from operating activities of £22.5 million a year ago.

Newcastle Building Society Appoints Andrew Haigh as Chief Executive Officer

A new Chief Executive has been appointed at Newcastle Building Society. Andrew Haigh, the Society's Chief Operating Officer, will take on the role following Jim Willens' decision to step back from full time executive work after five years at the helm of the Society. Mr. Haigh, will take up the post from 1st May, having already worked at the Society in his current role since January 2014. Andrew, who is from Yorkshire but now lives in the North East, brings a wide range of business experience, with over 20 years in the mutual sector, including more than 10 years as Chief Executive of Engage Mutual Assurance. Andrew gained his strong customer focus through his early career in marketing and customer service roles with British Airways, Barclays and National & Provincial Building Society.

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