We took out a discounted tracker mortgage with NBS in December 2024, and our experience since then has been deeply disappointing. Despite two base rate cuts totalling 0.5%, NBS has only passed on a fraction of that to mortgage holders. This feels like selective profiteering, they benefit from the full reduction in their own borrowing costs, yet choose how much (or how little) to pass on to customers.What’s worse is that savers have been hit just as hard - they’ve slashed savings rates aggressively. So, they’re squeezing customers at both ends. I've held mortgages with several providers before, and I’ve never encountered one so reluctant to treat customers fairly when rates fall.To their credit, we are able to overpay up to 20% annually without penalty - and we’re taking full advantage of that. We’re making aggressive overpayments purely to avoid paying NBS any more interest than we have to.In stark contrast, our previous mortgage with First Direct was straightforward, transparent, and honest. The difference in customer experience is night and day.We would not take another product with NBS, and I’d advise others to look carefully at how your lender treats customers after you sign the paperwork - that’s when it really matters
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Welcome to Newbury Building Society we provide mortgages and savings. Owned by our members, we exist solely for their benefit. Berkshire, Hampshire and Oxfordshire branches.
