National Counties Building Society got a modest start in 1896. It was not until 1989 that they reached their full potential with numerous insurance, savings, and mortgage products. Over the last 17 years the company has increased their annual growth by 9%, financially speaking. National Counties is a mutual organisation; it is owned by saving and borrowing members. It is not subject to Stock Market changes, which can make it a steadier choice. The company is also independent of any other institution or larger group with the majority of its funding being raised from individuals making deposits. To provide financial strength National Counties is conservative in lending, with low mortgage arrear issues.
National Building Society currently helps more than 50,000 customers with their financial needs including retirement mortgages. The company is available to members in England and Wales. Their retirement mortgage is set up for anyone 65 years or older. It does require eligibility based on retirement/pension income and any other income a homeowner may have. The application process assesses current financial commitments and any financial issues a person may have. Their retirement products are available for single or joint ownership.
National Counties works on the premise of low mortgage arrears and financial stability, which is another reason the building society needs to be careful about the amount of retirement mortgage a homeowner may require as well as any possible interest that can be paid. The application process is designed to determine who may be a good fit. National Counties Building Society staff members are on hand to answer questions to make it easier for homeowners to obtain the retirement mortgage they require. National Counties is also a member of the Financial Services Compensation Scheme and adheres to all Financial Conduct Authority and Financial Ombudsman Service regulations to ensure clients are happy with their retirement mortgages and customer service.