The Old Regular Savers Discussion Thread 28/12/24-29/1/26

Dizzycap

happybagger said:

Their take on it was the same as mine, "Local AND loyal". I was only loyal NOT local. I tried the personal touch as I was in the area but I won't be for a long time.

I may try by post but don't hold out much hope.

Me too & the same no joy, so won't be faffing with another building society that can't get it together. It's ok being local, if locals have the spare cash to hand to deposit. No doubt, as has been seen before, once Loughborough realise no one in the selected postcodes have spare funds to deposite, they'll be stating 'local OR Loyal', but I won't be holding my breath or faffling around, even then! 

Kim_13

happybagger said:

Their take on it was the same as mine, "Local AND loyal". I was only loyal NOT local. I tried the personal touch as I was in the area but I won't be for a long time.

I may try by post but don't hold out much hope.

You can also try by email.

It did previously say Locals in the bracket, rather than the Local and Loyal that it now says. As those living in the postcode areas don’t have to be loyal at all and only local, it follows that only loyal and not local is also now accepted. The more existing customers that complained about the exclusion, the more likely it was that the criteria would be expanded. As far as the cashier that dealt with you would have known, you’d travelled a long way and been required to be turned away despite years of membership, so that could have been fed to those making the decision.

Even with the wider criteria (having joined as little as two weeks ago is far more relaxed than I’d have expected) the account doesn’t seem to me that it will attract masses of applicants - most people don’t have £500 or £1,000 to set aside every month and if they have, they are prioritising higher paying Regular Savers. So widening eligibility avoids the accounts being total flops for the society.

chris_the_bee

Kim_13 said:

happybagger said:

Their take on it was the same as mine, "Local AND loyal". I was only loyal NOT local. I tried the personal touch as I was in the area but I won't be for a long time.

I may try by post but don't hold out much hope.

You can also try by email.

It did previously say Locals in the bracket, rather than the Local and Loyal that it now says. As those living in the postcode areas don’t have to be loyal at all and only local, it follows that only loyal and not local is also now accepted. The more existing customers that complained about the exclusion, the more likely it was that the criteria would be expanded. As far as the cashier that dealt with you would have known, you’d travelled a long way and been required to be turned away despite years of membership, so that could have been fed to those making the decision.

Even with the wider criteria (having joined as little as two weeks ago is far more relaxed than I’d have expected) the account doesn’t seem to me that it will attract masses of applicants - most people don’t have £500 or £1,000 to set aside every month and if they have, they are prioritising higher paying Regular Savers. So widening eligibility avoids the accounts being total flops for the society.

Loughborough
T''s&C's state:-

• Available to new and existing customers aged 16 years and over, residing in the postcodes LE, DE, NG and customers who had a Loughborough savings account or mortgage since 1st June 2025.

So I don't understand the problem as it says "and,,,".

allegro120

Dizzycap said:

happybagger said:

Their take on it was the same as mine, "Local AND loyal". I was only loyal NOT local. I tried the personal touch as I was in the area but I won't be for a long time.

I may try by post but don't hold out much hope.

Me too & the same no joy, so won't be faffing with another building society that can't get it together. It's ok being local, if locals have the spare cash to hand to deposit. No doubt, as has been seen before, once Loughborough realise no one in the selected postcodes have spare funds to deposite, they'll be stating 'local OR Loyal', but I won't be holding my breath or faffling around, even then! 

I think the reason for post code restrictions is the control of cashflow.  Loughborough is a small BS, they don't lend as much as larger institution and don't need too much idle cash, especially at such high cost. If they open £2k p/m @6% to all they'll end up in loss unless they close the window very soon after the launch. L'bro BS has been there for a long time, I'm sure they know what they are doing.

As for "no one" I deposit £2.8k p/m to L'bro BS.  I'm sure I'm not the only one

ForumUser7

Kim_13 said:

happybagger said:

Their take on it was the same as mine, "Local AND loyal". I was only loyal NOT local. I tried the personal touch as I was in the area but I won't be for a long time.

I may try by post but don't hold out much hope.

You can also try by email.

It did previously say Locals in the bracket, rather than the Local and Loyal that it now says. As those living in the postcode areas don’t have to be loyal at all and only local, it follows that only loyal and not local is also now accepted. The more existing customers that complained about the exclusion, the more likely it was that the criteria would be expanded. As far as the cashier that dealt with you would have known, you’d travelled a long way and been required to be turned away despite years of membership, so that could have been fed to those making the decision.

Even with the wider criteria (having joined as little as two weeks ago is far more relaxed than I’d have expected) the account doesn’t seem to me that it will attract masses of applicants - most people don’t have £500 or £1,000 to set aside every month and if they have, they are prioritising higher paying Regular Savers. So widening eligibility avoids the accounts being total flops for the society.

Wow, I hadn't clocked it was required monthly pay ins - that is quite something. If you had both accounts, and kept them throughout the duration, you would be required to pay in at least £24,000 over the combined terms... A lot of money with such limited withdrawals, and the postal requirement too if far away.

*EDIT* I never get why they can't offer faster payment withdrawals for free as standard, given they do it upon maturity. Must be a costs thing, but it does make it difficult needing to use cheques or pay a tenner

Money_Grabber13579

chris_the_bee said:

Kim_13 said:

happybagger said:

Their take on it was the same as mine, "Local AND loyal". I was only loyal NOT local. I tried the personal touch as I was in the area but I won't be for a long time.

I may try by post but don't hold out much hope.

You can also try by email.

It did previously say Locals in the bracket, rather than the Local and Loyal that it now says. As those living in the postcode areas don’t have to be loyal at all and only local, it follows that only loyal and not local is also now accepted. The more existing customers that complained about the exclusion, the more likely it was that the criteria would be expanded. As far as the cashier that dealt with you would have known, you’d travelled a long way and been required to be turned away despite years of membership, so that could have been fed to those making the decision.

Even with the wider criteria (having joined as little as two weeks ago is far more relaxed than I’d have expected) the account doesn’t seem to me that it will attract masses of applicants - most people don’t have £500 or £1,000 to set aside every month and if they have, they are prioritising higher paying Regular Savers. So widening eligibility avoids the accounts being total flops for the society.

Loughborough
T''s&C's state:-

• Available to new and existing customers aged 16 years and over, residing in the postcodes LE, DE, NG and customers who had a Loughborough savings account or mortgage since 1st June 2025.

So I don't understand the problem as it says "and,,,".

Because the only way that makes any sense is to read it as referring to two distinct groups of people: those who are local, and those who are loyal. Either group of people have to be able to open it.

If that’s not how it should be read, then the new customers option at the start can’t ever be satisfied, as they won’t be able to be loyal…

ForumUser7

Bridlington1 said:

Loughborough BS Interest Rate Reductions 1/7/25:

Account	Old rate	New rate	Date
Loughborough BS Limited Access Monthly Saver	4.75%	4.45%	01/07/2025
Loughborough BS Regular Monthly Saver  Account	2.50%	NO CHANGE	01/07/2025
Loughborough BS Holiday Monthly Saver	5.60%	NO CHANGE	01/07/2025
Loughborough BS 1 Year Super Saver	6.00%	NO CHANGE	01/07/2025
Loughborough BS 2 Year Super Saver	5.00%	NO CHANGE	01/07/2025

While it's good Loughborough is moving to paperless comms for this rate change announcement, IMO, I feel their email was rather amateurish:

• Not personally addressed
• Low resolution screenshots
• The flashing vertical line cursor was even visible in one of the images

Moving paperless is a good step - but I hope they are able to improve their systems going forward to be in line with those of other societies - for example, even if they can't be personally addressed it would be better if they just placed the text in the email, or attaching a normal resolution PDF

Bridlington1

Regarding Loughborough BS, I've just phoned them and was asked to confirm the account number for my Holiday Monthly Saver and my address.

They're now sending me an application pack for their 1Y Super Saver to my address in Yorkshire so it seems the person I spoke to at least is happy for existing customers to open the account if they live outside of the postcodes specified so long as you've had an account with them since 1st June as per the Ts&Cs on the account.

Bridlington1

Just a reminder the following interest rate cuts come into effect tomorrow:

Account	Old rate	New rate	Date
Monmouthshire BS Exclusive Regular Saver Issue 2	5.20%	4.90%	16/06/2025
Penrith BS Junior Affinity Regular Saver	4.70%	4.45%	16/06/2025
Penrith BS Regular Saver 200	4.00%	NO CHANGE	16/06/2025
Penrith BS Regular Saver 200 Issue 2	5.00%	NO CHANGE	16/06/2025
Penrith BS Regular E-Saver 200	5.00%	NO CHANGE	16/06/2025
Penrith BS Regular Saver 300	5.00%	NO CHANGE	16/06/2025

Bridlington1

Cumberland BS Interest Rate Cuts 8/7/25:

Cumberland BS Regular Saver (Issue 3) from 5% to 4.75%

First Home Saver from 4.1% to 4%.