Shepshed BS and Nottingham BS merger to go ahead - Banking - News - Moneyfacts


Shepshed BS and Nottingham BS merger to go ahead

Shepshed BS and Nottingham BS merger to go ahead

Category: Banking

Updated: 12/06/2013
First Published: 12/06/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The proposed merger of Shepshed Building Society and Nottingham Building Society will go ahead thanks to financial regulatory approval.

The Prudential Regulation Authority (PRA) confirmed its approval of the merger, scheduled to go ahead on 1 July this year, following an application by both building societies on April 23 this year.

Changes due to occur as a result of the merger, include:

  • Shepshed Building Society members having access to an enhanced selection of products and services offered by Nottingham Building Society, including a broad range of mortgage and savings products, independent financial advice, whole of market mortgage advice and local estate agency services.
  • A full refurbishment of branches in Shepshed and Loughborough and the opening of a new and larger building society branch in Ruddington, Nottinghamshire.
  • Access by members of both societies to all 34 building society branches in Derbyshire, Leicestershire, Lincolnshire, Nottinghamshire and South Yorkshire. Members will be able to access Harrison Murray estate agency services in Leicestershire, Cambridgeshire, Northamptonshire, Bedfordshire and Hertfordshire.

David Marlow, chief executive of Nottingham Building Society, said he believed the merger would be of benefit to members of both mutuals.

"The announcement by the PRA today is one of the final steps in our merger with the Shepshed in the run up to our anticipated completion date of 1st July," he said.

"We are very much looking forward to welcoming members and staff of The Shepshed to The Nottingham Group."

What next?

Compare the best savings rates
Search all mortgages
Find out how to choose the best bank account by reading our guides to help you open and manage your bank account

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

More people are switching current accounts

Competition in the current account market remains intense, which means if you’re not happy with your account for any reason, now’s a great time to switch! Happily, more and more people seem to be getting in on the switching action...

Financial services complaints continue to fall

Many people feel dissatisfied with their financial providers at times, but happily, it looks as though the most serious complaints are becoming less and less common.

Contactless spending hits yet another record

Contactless spending is going from strength to strength, hitting new records on a seemingly monthly basis - and it’s just broken yet another one, with monthly contactless spending having passed the £2bn mark for the first time.