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Norwich & Peterborough Building Society restricts access to Isas

Norwich & Peterborough Building Society will restrict access to its mini-cash Isas from May 22.

The restrictions mean Isa accounts must be opened in person at one of the society&#39s regional branch network in East Anglia.

The constraints are imposed to prevent speculative activities from carpetbaggers.

The move does not effect existing N&P customers.

The society is the latest building society to attempt to head off the carpetbaggers by restricting the opening of accounts. Its announcement follows recent moves by the Skipton, Chelsea and West Bromwich building societies.


Coventry Building Society launches flexible mortgage

Coventry Building Society is launching into the flexible mortgage market for the first time.The new Flexible Mortgage allows the borrower to take premium holidays or make overpayments.The variable interest rate is 5.75 per cent up to 75 per cent loan to value or 5.99 per cent up to 95 per cent LTV.The mortgage also guarantees […]

Building Societies Association calls for rule change

The Building Societies Association&#39s outgoing chairman has called on the Government to change the rules governing building societies.Speaking at the BSA annual conference John Heaps suggested the Government should make a number of changes to protect societies from carpetbaggers.Heap says the regulations should allow borrowers to have the same rights as savers. The Government should […]


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