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Today N&P has officially merged with the Yorkshire, the UK’s second largest building society, creating a combined society with approximately 3.5 million members and 224 branches. The combined Society will be called the Yorkshire Building Society but the N&P name will be retained as a separate and distinct brand within the Yorkshire. N&P members are now members of a much larger society with substantially greater assets, access to funding and financial resources.
Now that the merger has taken effect, it’s going to be a busy and exciting time for both societies as they work to integrate the two organisations. All N&P members are now members of the Yorkshire – if you were an N&P member, your Yorkshire membership will date from whenever you first became a member of N&P.
For members who are N&P mortgage customers, it’s extra good news as the Society’s Standard Variable Mortgage Rate (SVR) of 5.35% is being reduced with effect from today to the same rate as the Yorkshire’s – 4.99%. Homebuyers who are on SVR will see an immediate benefit and those who are currently on a special deal will have the benefit when they eventually go onto N&P’s SVR.
Savers who have over the FSCS limit because of the merger will receive a letter in due course to advise them that they will be able to move their savings without penalty. Click here to see what FSCS limits currently are.
All customers can be assured that Yorkshire is an efficient and financially strong mutual organisation – the UK’s second largest building society in fact – and is focused on delivering long term good value products and excellent service to its members. YBS has the financial strength and depth to provide you with a stronger and more secure society long-term. In the current uncertain and volatile economic climate, that’s reassuring to know.
Yorkshire is committed to mutuality, is proud of its traditional values and offers a credible and secure alternative to the high street banks
Yorkshire’s strong branch network is at the heart of the organisation and Yorkshire has a commitment to retain a high street presence in all the local communities where it has a branch – and that now includes N&P branches.
Norwich & Peterborough Building Society and N&P are trading names of Yorkshire Building Society. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085. Principal office of Yorkshire Building Society: Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ
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