General Information

Principal Office

Cumberland Building Society
Cumberland House
Castle Street
Carlisle
CA3 8RX

Cumberland Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

Cumberland Building Society, Cumberland Financial Services Limited and Cumberland Financial Planning Limited are entered in the Financial Services Register and their reference numbers are 106074, 200391 and 589832.

Customer Service Helplines

Customer Services Helpline 0845 601 8396 or 01228 403141

Opening Hours:
8.00am - 8.00pm Monday to Friday
8.30am - 4.00pm Saturday
10.00am - 4.00pm Sunday

Email

customerservice@cumberland.co.uk

Telephone calls

For your added security and to help us improve our service, telephone calls may be recorded and the recording kept secure.

The Banking Conduct Regime and Financial Ombudsman Service

We support The Banking Conduct Regime which is regulated by the FCA and are covered by the Financial Ombudsman Service. We have an internal complaints procedure to help resolve any problems you may have concerning the operation of your account. The Society also subscribes to the Lending Code; a voluntary code which outlines good practice in various types of lending including overdrafts on current accounts. A copy of the Lending Code and Lending Code guides are available from the Lending Standards Board. Alternatively contact us.

Website information

Although the information you send to us via forms on this site will be sent to the Cumberland by secure means, we would remind you that you should never send any confidential details (for e.g. account details). By sending us messages you agree that you are doing so at your own risk and that we may respond using the same means.

The information contained within this site is designed to be read in conjunction with our range of leaflets, some of which you can view and download from this site. Alternatively contact us and we will arrange for you to receive printed versions of the leaflets.

The Cumberland is not responsible for the content of the external internet sites linked from this site. See the Privacy Policy for more information.

This site is intended for UK residents unless otherwise stated.

Basel 2 Pillar 3 Disclosure

You can view details of Cumberland Building Society's Basel 2 Pillar 3 Disclosure in this PDF document.

The Money Advice Service

The Money Advice Service have launched a financial health check which is based around a series of multiple choice questions on personal budgets. The questions focus on a customer's attitude to money, looking at their current situation in relation to savings, debt and housing costs, as well as considering future changes to income or circumstances.

The Money Advice Service Health check can be accessed by clicking here.

Mortgages

Payment difficulties

We appreciate that your circumstances may, at some time in the future, change and you may experience temporary financial difficulties.

The Society follows the Building Societies Association Arrears and Possessions Guidance when handling arrears and possessions.

It is important if you find yourself in financial difficulties you let us know as soon as possible. We will be sympathetic and positive and we will do all we can to help you overcome your difficulties. Please see the following leaflets for further details of how we may be able to help you and what steps you should take to help yourself.

• Treating you fairly when you cannot pay your mortgage
• Can't pay your mortgage

The sooner we discuss your problems, the easier it will be for both of us to find a solution. The more you tell us about your full financial circumstances, the more we may be able to help.

If you are in difficulties you can also get help and advice from debt counselling organisations. At your request and with your consent we will liaise, wherever possible, with debt counselling organisations that we recognise, for example:

• Citizens Advice Bureau
• Money Advice Trust
• StepChange Debt Charity
• National Debtline

Further information on repossession can also be found here:

• Government Repossession Guide

In some cases you may be able to get help with your mortgage payments from the Benefits Agency. You are however strongly recommended to take out Cumberland Mortgage Payment Protection, to cover your mortgage payments against sickness, accident and unemployment. Details can be found in our separate leaflet 'Mortgage Payment Protection', which is available by contacting us.

Financial Conduct Authority (FCA)

As you may be aware, the Financial Conduct Authority (FCA) regulates the sale of mortgages, to ensure that we and other mortgage lenders comply with rules and standards in all our dealings with you.

There is a useful fact sheet which you may like to read called 'You can afford your mortgage now, but what if?' which is available from The Money Advice Service.

Where we lend

We are a strong regional building society, and lend mainly on residential properties in our branch operating area, that is Cumbria, Dumfriesshire, the Preston area of North Lancashire and the Haltwhistle area of West Northumberland. We will consider lending on properties in other parts of England, Wales and Scotland, although each product will be subject to specific restrictions.

Interest rate changes

Changes to interest rates will be notified to customers by letter. If you make your monthly payment by regular 'internal transfer' from a Cumberland account, you will need to confirm your new payment instruction unless you've already given us the authority to change it automatically. If you have a variable direct debit the Cumberland will collect the new payment automatically. If you currently pay a fixed amount by Direct Debit you need to contact us to change the amount you pay to fully cover the payment required. If you pay by standing order, you will need to give new instructions to the bank or building society concerned.

Charges for mortgage linked services

Full details of our mortgage charges can be viewed in our leaflet here. Alternatively, contact us for more information.

Savings and Current Accounts

Financial Services Compensation Scheme

Cumberland Building Society is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).

The £85,000 limit relates to the combined amount in all the eligible depositors’ accounts with the building society, including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call the FSCS on 020 7741 4100 or 0800 678 1100.

Please note only compensation related queries should be directed to the FSCS.

Dealing with debt

Our guidance leaflet provides you with advice on how to deal with debt.

How to avoid incurring charges

Our guidance leaflet provides you with advice on how to avoid incurring charges on your accounts.

Lost & forgotten savings?

There are many thousands of forgotten bank and building society accounts in the UK, known as ‘Dormant Accounts’. The definition of a dormant account under the Dormant Bank and Building Society Accounts Act 2008 is one that has had no customer initiated activity for fifteen years or more. The Society is committed to making contact with as many affected customers as possible to reunite them with their funds.

If you think you may have a lost or forgotten account with the Society, all you need to do is either:

• Visit www.mylostaccount.org.uk to submit an electronic account tracing form online. This is an official site set up by the British Bankers' Association (BBA), the Building Societies Association (BSA) and National Savings and Investments (NS&I) which will help you trace savings you have lost touch with.
• Or alternatively, write to us at Cumberland House, Castle Street, Carlisle, CA3 8RX, providing as much information on the account as possible.

Ownership of money in these accounts always remains with the customer or their beneficiaries regardless of how much time passes. Customers with accounts identified as ‘dormant’ will retain full membership rights (where applicable). It is also possible to trace another person's lost account if you are legally empowered to do so.

Lost or stolen cards

Call Customer Services on 0845 601 8396 during opening hours or 01228 547090 at all other times

Charges for Personal Account Services

Most basic account services are free while your account remains in credit. We do, however, make a charge for transactions made when an account is overdrawn without our prior agreement. We also make a charge for other non standard services such as stopping payment of a cheque.

Full details of our charges can be viewed in our summary leaflet, alternatively contact us for more information.

New & Existing investors

The Society requires new investors to agree to assign any possible future windfall rights, in the unlikely event of conversion to a bank or a takeover, to a charitable foundation. Full details are set out in the Society's new account application form. As we do not offer a full postal investment service, we do not accept new accounts from new customers who live outside our branch operating area. Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area. Existing customers should contact us for further information.

Interest rates

Full details of our current and previous variable interest rates can be viewed in our summary leaflet. Alternatively contact us for more information.

Interest rate changes

Changes to interest rates will normally be notified to customers by letter or a combination of notices and leaflets in branches and advertisments placed in a selection of the following newspapers circulating in various parts of Cumbria, South West Scotland and West Northumberland - Evening News and Star, Annandale Observer, Annandale Herald, Dumfries and Galloway Standard, Dumfries Courier, Moffat News, North West Evening Mail, Westmorland Gazette, Eskdale and Liddesdale Advertiser and Hexham Courant.

Changing your mind

If after opening a savings or current account you find that you are not happy about your choice of current or savings account (except for a fixed rate account) you may cancel it within 14 days of:

1. the day the account is opened or your first deposit made; or
2. the day you receive your Cumberland Savings and Current Account Conditions leaflet

We will then help you switch to another one of our accounts or we will give you all of your money back with any interest you have earned. The interest we pay to you in these circumstances may be calculated at the rate advised at the time for our Instant Savings account. If your account has been overdrawn you may be required to repay any debit interest owed before the account can be closed. We will however ignore any notice period and any extra charges.

If you do not exercise your right to cancel during this period, you will be bound by these terms and conditions.

Cheque clearance periods

Full details of our cheque clearance periods can be viewed in our guide, alternatively contact us for more information.

Tax on Savings

For guidance relating to claiming tax back paid on your savings, go to the HMRC website.