Homes for Ukraine - important information can be found here.
Monthly savings statements - From May we will be sending future monthly statements of electronic transactions on your savings account by email. More details on how to view your statement and the new process can be found here.
Following the Bank of England’s decision to raise the Bank Rate by 0.25% to 1.00% on 5 May 2022, Windfall Bond and Tracker Savings Bond rates will increase by 0.25% from 1 June 2022. We are reviewing our other variable savings rates and will notify customers of any interest rate increase on their account. Tracker mortgages will change on 25 June 2022 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. (Notice updated 06/05/2022)
Preparing for the worst
Are you ready for the unexpected? Recording all your financial details can help your family in the future.
Death and taxes are the two great certainties in life.
We have lots of experience of the difficulties that are faced by loved ones when there’s a death in the family. Although it's likely to be the last thing on your mind, money is important and if we all put a little planning in place it could be much
less of a worry. It could also mean a lot less friction between family members.
Some key questions for us all
- Have you got an up to date Will?
- Does your family know where it's kept?
- Who are the executors and do they know what may be involved?
- Do you have an end of life care plan that the executors can follow?
- If you've divorced and remarried, have you made arrangements for children of previous marriages?
- Do you need a solicitor, or is a specialist legal services firm more appropriate?
- Are you the only person who can access your bank account?
- Where are the deeds to your house?
- What are the details of your insurance policies?
- Is it easy to identify any company shares you own?
- Is your digital life easy to find and close down?
- Does your family know how to register a death?
- What are your wishes for your funeral arrangements?
Families and 'that' conversation
All of these are vital questions and take time for your family to find out when you’re not there.
Shouldn’t we share with our families now what should happen when we’re gone? Let’s get over our natural reticence to talk about our finances, so when it really matters, it’s all very clear and as easy as possible.
How can the Family Building Society help?
We have created a 'Record of Finances' document for your executors that allows you to easily record all the financial details so that your family can resolve your estate as smoothly as possible.
Set out in clear language, the document identifies all the main components of your financial life. All you have to do is get the papers out of your files and copy in the relevant details.
And, as we’re all different, there’s scope to build in items that may be specific to you.
You can download the Record for Finances document here.
Record your finances
Our 'Record of Finances' document allows you to record all your financial details in one place, helping your family to resolve your estate smoothly when you pass away.
Real life 'what if' scenarios
Being prepared is important. We've listed some realistic situations which you should consider thinking about and taking some appropriate action.