Working for Britannia B.S

misterjingles

I'm in the running for a job at Brittania building society in Staffordshire.

One of the perks they offer is staff mortgage rate after 12 months service.

Anyone out there know what rate this is currently & how attractive it is as a perk ??

Trying to work out financial implications of taking the job if offered - i.e what it might be worth converted into an amount on the salary.

regularsaver1

staff mortgages with banks and building socities are often incorporates into your benefits and are looked at for tax reasons.

I'd say look at all deals, and what would be the implications if you were to leave your job

ReportInvestor

SVR is 6.7%.

They have not got a history of a low SVR because a) they have gone hell for leather for new mortgage business of late and b) the Britannia Reward Scheme will give mortgage borrowers up to £500 pa back so they have to factor this into their long term rates.

Good luck with the job .

Average staff pay with Britannia is on the low side compared to other top ten BSs but that may reflect the pay in Leek.

regularsaver1

I know the staff mortgage rate at the bank I work for is Bank of England rate so 5% - but i don't know about Brittania BS

Worth finding out though

regularsaver1

EDIT - Sorry BB was crashing

Honeybee_2

It was pretty good when I worked there. However, staff saver had all of the fees to pay whereas one of the lower rate mortgages had fees paid for.

Remember, once you're in there, you get information regarding new products before they are released so you can snap it up when it is released.

dunstonh

Staff mortgages used to be a good perk. These days they are less so with low interest rates and taxation on the beneficial amount.