Anyone looking for a financial partner who can help them in saving and mortgages, a building society is the perfect partner. The difference between a bank and a building society is that all the account holders in the society are entitled to voting while choosing the leadership of the society. Some societies have diversified their services to offer other banking services. A good example is Monmouthshire Building Society in Wales.
The history of Monmouthshire Building Society
Monmouthshire Building Society was founded in late1869 to target the savings need of the local people of Chepstow all the way to Swansea-Wales. It is a mutual financial institution which has been authorised to operate in the financial market by the Financial Services Authority. It has stood the test of time from its initial operation, seeing an expansion of its branch network and operating agencies. It has also had an expansion of financial services other than just savings and mortgages.
Services offered by Monmouthshire Building society
It offers a variety of accounts to choose from. Savings accounts range from children savings accounts to personal, corporate and charity accounts. There are also saving plans which one can opt for. This includes bonds, monthly cash savings and special day savings. Their interests’ rates are attractive, hence your money will be growing. Mortgages
This is a major operation point of the building society. The society offers its members credible mortgage advice before settling for a mortgage plan. In this cluster of services, they have home mortgages, buying-to-let mortgages,
re-mortgaging for assets and additional borrowing on top of a pending loan. The society is also keen to advise its members on how to come up with the net worth of a mortgage. It helps clients to calculate how much they are supposed to repay, depending on the repayment plan and whether it makes economic sense. Insurance
Another remarkable service of the society is the insurance sector. Monmouthshire Building society offers insurance packages which are
user-tailored. Some of the packages include life, travel, home and mortgage repayment insurance. Before a client settles on any package, adequate literature is availed for wise decision making. Financial planning
It is noteworthy that the society has also gone into helping members with financial planning. For any kind of financial dilemma, the society is able to help members to come up with sensible financial plans. In addition, it provides the service of guiding members on how to write a comprehensive and conclusive will for the purpose of inheritance.