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Essential works - Kirkby in Ashfield (from 28 June)

Family Assist Variable Rate Savings Account (1st issue)

Summary Box

Additional Terms and Conditions applying to the Family Assist Savings Account.

Additional Terms and Conditions applying to the Family Assist Savings Account.

  1. The Product Summary for the Family Assist Savings Account must be read in conjunction with the General Account Terms and Conditions and the Agreement. If there is any conflict between the Product Summary information, the General Account Terms and Conditions and the Agreement, the Agreement shall prevail.
  2. It is recommended that you take Independent Legal Advice to ensure that you understand the commitment you are making and the risks involved before giving us a Legal Charge over your savings.
  3. The Family Assist Savings Account is a Share Account and as such the account holder(s) shall have membership rights as determined by the Society Rules. In the event of any conflict between the Rules and the Agreement, the Agreement shall prevail.
  4. Whilst the Agreement is in place;
    1. Withdrawals are not permitted from the Family Assist Savings Account and the account may not be closed in any circumstances.
    2. The funds in your Family Assist Savings Account are at risk in the event of a repossession of the Borrower’s Property under Mortgage to the Society for which you have provided this Deposit. If there is a shortfall between the sale price of the Property and the outstanding balance on the mortgage account, then the savings may be used to repay that shortfall in full or in part.
    3. The funds in your Family Assist Savings Account may be used to make up any shortfall of monthly repayments, arrears, outstanding interest, costs and charges or fees on the Borrower’s Mortgage Account.
    4. The Society is appointed attorney of the account holder(s) under the Agreement. If you or any of the account holders becomes incapacitated or dies, the savings in your account will remain charged to the Society and held as Additional Security for the Mortgage until the obligations for release have been fully satisfied.
  5. Before you are able to access your funds you will need to be released from the Agreement. The Agreement can be found here.

Charitable Assignments

All new customers opening a savings account will be required to sign a declaration agreeing to assign any windfall conversion benefits to the Charities Aid Foundation. This assignment will apply for the first 5 years of membership. Existing members with continuous membership prior to the effective date are not affected. Our Charitable Assignment Scheme leaflet provides full details.


1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to each year. AERs on the Monthly Income accounts assume interest is added to the account each month although in practice the option to have interest added in this way is not available.

2. The gross rate is the contractual rate of interest payable without tax taken off.
If separate AER/Gross rates are not quoted, both rates are identical.

^Tax free means you won’t pay UK tax on any income or capital gains your ISA makes.

Our savings accounts are exclusively available to UK Residents only.

These account details apply to personal investors only unless stated in the detailed information.

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