Loughborough Building Society Reviews 

Recently wanted to apply for a mortgage however the process and timescales were similar to when we lived in cavemen era.

Asked to speak to the team manager and was promised a call back twice however not heard anything.

Not using loborugh building society and will never use them.

Shocking company stuck in the middle ages. If you saw their paperwork you would think this is a scam. Their rates are terrible dont get locked into these guys. 3.6 at the time of writing is for a reason. SVR awful.

Applications for new savings accounts have to be made by post - but accounts are opened quickly. Good service. Phone calls are answered straight away. Email enquiries are also answered very quickly (within hours in my experience). After accounts have been opened by post (by sending a cheque), it's possible to send subsequent deposits by Faster Payment. Faster Payments are credited to your account the same working day. You can contact the Building Society to confirm deposits (Faster Payments) have been received. However, there's a Confirmation of Payee (CoP) match when you send Faster Payments from your current account to Loughborough accounts - this provides assurance. I understand withdrawals must be arranged by posting a completed form to them (available on their website) with your passbook enclosed. Their 12-month Regular Saving Bond (max £500 per month) is competitive (5.05% fixed). Their Limited Access Saver (max £2,000 per month) is also worthwhile (4.75% variable).

I’ve called into Anstey branch twice in the last month or so dealing with complex requests on half of myself & for two elderly relatives. Christine & Julia couldn’t have offered better service, all done with a smile & super efficiently. I apologised for the task to Christine & she made me feel like nothing was too much trouble, Julia offered to complete my complex transactions whilst I waited. Well done to them both & all the staff there, visiting you is always a pleasure.

I have currently been on a variable rate for the past 1 year 3 months, the rate has increased for me but has never been lowered in line with the bank of England, even though rates are drastically lower now. They have lowered the same variable rate for new customers and I am paying over 1% more than this! If you are an existing customer you are just getting completely scammed by them. I really wish we hadn't chose this mortgage provider and CANNOT WAIT to get out of this contract!

Applied to open a cash ISA for £20,000.Nearly two weeks later they emailed to say the ID I had sent of my passport was 'cropped' and therefore couldn't be accepted.Why didn't they say this when they received it? Still not opened.On the very same day I opened another savings account with Paragon.That was opened within 3 days.Know they have procedures to adhere to but waiting for two weeks and still not opened so won't use them again.

The Loughborough BS opened the Fixed Rate Bond that I wanted. Firstly, I phoned to check that the Bond was still available: Alison advised me to be quick applying for the Bond because interest rates were being reviewed. Then, just-in-time, I posted the Application Form using Royal Mail First Class Signed-For. Excellent advice and service - So, I got the Fixed Rate Bond that I wanted. Thanks.

Stuck in another era. No online banking. I'd opened up a savings account at the Derby branch but shut it within a year as I either had to pay to park in the town centre to get to the branch or get the bus. The staff were nice enough but it's all a 1970's time warp. I moved my money to another building society where I can access my account, withdraw or move money from the comfort of my house online.

Great service kind helpful took out a two year bond at good fixed interest rate nice to talk to a lady in person in the branch and not online !

Be aware that if you want to transfer from LBS to another provider, it cannot be done digitally. It has to be done by post - so very slow. I have found them inefficient - I had to phone to ask what my final balance on maturing account was. They advertise a one year
account - which is actually 14 [not 12] months. They were supposed to include passbook showing new account balance, but did not. It is true someone answers the phone promptly - but that is it. I have tried to reach a resolution via a member of staff - to no avail. No apology for incorrect information - when is a year not a year? Or gesture of goodwill for my having to phone more than once for correct information. Have reported them to Resolver - which prompted a letter from LBS to tell me what Resolver does! Yeah, I knew that already! Am trying to move my a/c from them, but they want this done within 9 days and as it cannot be done electronically, the changes - through snail mail - are slight. Given the attitude of the person who has been dealing with my complaint[s] I suspect the forwarding of this review to them, will have little impact.

I have just opened a two-year fixed bond account, which gives one of the highest interest rates around. Loughborough is very old fashioned, and wanted the application through the post with a cheque enclosed. However, they give old fashioned good service as well, as I called them twice before deciding to go ahead and my call was answered in person within a minutre each time. None of that option business or 'your call is important to us' but not important enough to answer rubbish.

This was during an on/off postal strike, but they got the account up and running within a couple of days and the documents back to me withing a week.

So far I would gladly recommend them.

Just opened an account with the Anstey branch and it was wonderful to get real, old-fashioned quality service in a bank setting. Stuff the big boys - shopped small & local and got a great deal. Personal banking like it used to be before the crooks & vultures took over!

Loughborough Building Society are stuck in the 19th century. They cannot or will not do free BACS transfers.
They penalise loyal savers by not offering the same rates on old accounts as they do on new accounts.
When they did eventually equalise the rate on their monthly saver accounts, I got no email to advise me.
They take their customers for granted.
I think the whole organisation needs to go on a customer service training course and move into the 21st century

Isn't it great in this day and age to find a company that actual does great work. I have had occasion to phone Loughborough to sort out my BTL mortgage and always got straight through to a real person who has sorted things out for me straight away. No faffing about. No making me hold on for hours on the phone and at the end of it a great low cost mortgage or answer to my query. Well done Loughborough:-)

We use Loughborough fairly regularly and have done since 2019. We refer to them as our secret weapon as they are quite an unknown with brokers.

So far we have never had a case declined by them, they have some great criteria which allows us to help people with quirky circumstances.

We have recently switched our mortgage to the Loughborough Building Society the whole process was seamless and very efficient they have a fair concept and its been a pleasure doing business with the society highly recommended

As an existing customer of this company, I thought I’d use them again to get another BTL mortgage.The sales advisor’s (Rachael and Gregg) were excellent but that’s where it ended. Having been accepted and fees sent to them, they use gateway surveyors 👎unfortunately for me the so called expert didn’t have a clue on local rental values so mortgage was reduced by Loughborough.
I provided quotes for rental expectations from “LOCAL” lettings agents which where £300 more than the incompetent surveyor.
Loughborough’s response was his word is final !! Ridiculous underwriting management.