It is a mutual firm based on the proposition that families can help each other financially in today’s complex world through new, well-designed mortgages, savings and other products.
For example, parents and/or grandparents can use their resources to help young people get on the housing ladder but without having to give the money away.
More than that, the Family Building Society provides access to financial services and products that meet the needs of family members at all stages of their lives.
Mark Bogard, Chief Executive of the Family Building Society, said today:
“This is an entirely new, focused and joined up development in financial services that is designed to meet the changed financial landscape and a dependency on each other, for the family.
“Unlike the big banks, we don’t want to be all things to all people. We just want to serve families with particular needs, really well.
“The Family Building Society is a modern society with traditional values.
“We are living longer and need to provide for old age care. Parents want to support their children into independence but have their own needs to consider. Young people want independence but often have student debt and find it hard to save for a deposit. Also they don’t want to be a further burden on their parents.”
“We are much more than just a mortgage provider. Elderly people look for guidance on their circumstances as well as looking to help their children and grandchildren.
“Parents face all the pressures of worrying about their parents as well as children and providing for their own old age.
“At every stage of life the Family Building Society, either on its own or with carefully selected and vetted third parties, has a product to meet a specific need.
“Mortgages for young people, a Low Start mortgage for divorced people starting again, savings products that help towards the mortgage arrangement fee for first time buyers and motor insurance products that help young people get on the road at a sensible price. We also offer a range of later life financial solutions such as equity release, care fees planning and assisted home sales. All of these are under one banner.
“Together with a service standard that treats our customers as the individuals that they are.
“The Family Building Society is dedicated to helping families help each other.
“There is much in the papers and on the news about how billionaires live; and people on benefits.
“We are here for the families in the middle. Three generations with their own hopes, aspirations, worries and needs. This is joined up finance for all the generations.”
