Notices

We have increased the interest rate of our Online Saver, which now pays 4.52% AER on balances of £100+. Find out more

The Online Saver (8) interest rate has increased to 4.52%. Click here to find out more and apply.
Important changes to our mortgage products - Find out more.

Mortgage products - On Thursday 30 January 2025, we made changes to our mortgage product range. This included adjustments across our Fixed Rate products for Owner Occupier Interest-Only, as well as Buy to Let.
The maximum LTV has now increased from 70% to 75% for all UK Landlord (including Offset), Limited Company, Expat Buy to Let products, with Multi-Unit Freehold Blocks (MUFBs) continuing to be capped at 70%.
Our Market Tracker Saver (1) paying 4.50% AER and Market Tracker Cash ISA (2) paying 4.55% AER are now back on sale. Find out more here
Our new 1 Year Fixed Rate Bond (52) paying 4.76% AER on balances of £10,000+ is now on sale. Exclusively online only. Find out more here

Family Security Account (1)

In a Family Security Account account, savings can act as security for the mortgage which typically means the borrower benefits from a fair interest rate

Your savings are protected.

Annual interest (AER gross)	Account rate type	Minimum opening amount	Additional information	Monthly interest option?	Withdrawal limits	Available to new customers?
3.80%	Mortgage linked	£5,000	The Family Security Account can only be opened by a family member of a Family Mortgage applicant requiring the security provided by this account The account can only be applied for and operated by post	No	Withdrawals or account closure are only available following a review of the linked Family Mortgage	No

Key features

View summary box

Reduces the amount of the monthly payments for the linked Family Mortgage while your savings continue to earn interest
Account can only be applied for and operated by post
Save from £5,000, up to 20% of the value of the linked Family Mortgage prime security
Withdrawals or account closure are only available following a review of the linked Family Mortgage
Additions are not permitted

The information provided below is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and the General Conditions for our Savings Account booklet.

Account info downloads

Account summary box

Account name

Family Security Account (1)

What is the interest rate?

Rate effective from 6 January 2025	Gross AER¹
£5,000+	3.80%
Interest is calculated daily and paid annually on 31 December

Can the Family Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated

What would the estimated balance be?

Opening balance	Projected balance (Gross)
£5,000	£5,190.00
This projection assumes that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months All projections are provided for illustrative purposes only and do not take into account individual circumstances Actual interest may depend on the date the account is opened and the date that interest is paid

How do I open and manage my account?

The Family Security Account can only be opened by a family member of a Family Mortgage applicant requiring the security provided by this account
The account can only be applied for by post
A minimum of £5,000 must be deposited
Additions are not permitted
The maximum that can be held in the account is 20% of the value of the linked Family Mortgage prime security
Instructions for the account can only be made by post

Can I withdraw money?

Withdrawals or account closure are only available following a review of the linked Family Mortgage. Please refer to the 'Family Security Account terms' section of the Product Features leaflet for more information

How can I make deposits?

A minimum of £5,000 must be deposited
Additions are not permitted
The maximum that can be held in the account is 20% of the value of the linked Family Mortgage prime security

Additional information

TAX STATUS: Interest is paid gross without deduction of income tax. You will need to declare any income from savings interest earned over your PSA² through a self-assessment tax return to HM Revenue & Customs. Interest is paid annually on 31 December and available from the following day.

All financial information correct on 13 December 2024.