Remortgage Market

A Guide to Remortgages, Mortgages, Secured Loans, Unsecured Loans, Bad Credit, Insurance & Credit Cards.

Remortgage Market - General information which is in no way to be considered financial advice.

Chesham Building Society

The Chesham Building Society is a local building society (Hertforshire, Buckinghamshire) catering primarily for the needs of residents in its operating area.

Aiming to bring the benefits of membership to increasing numbers of people in the future by offering competitive rates on savings and mortgage products, together with a high standard of customer service.

Chesham Building Society

The Society found that the service to existing customers was at times being disrupted by the actions of speculators. To avoid such disruption the Society requires new investors to agree to assign to a charitable foundation, any future windfall benefits they receive, (in the unlikely event of a transfer of the Society's business to a bank etc) within five years of their accounts being opened.

The charity appointed by the Society to receive future windfalls is the Charities Aid Foundation (CAF), a UK registered charity governed by a Board of Trustees whose patron is HRH The Prince Philip, Duke of Edinburgh KG KT.

Existing shareholding members may open new accounts without being required to assign any benefits to The Charities Aid Foundation if, when they do so, they have maintained continuous shareholding membership:-

Since before 17 January 2000 (when these arrangement were introduced)
Since they opened a shareholding account and entered into a charitable assignment agreement (though this agreement will remain in place and usually apply to all account balances, though subject to the five year limit referred to above).
There are certain other categories of investor who are exempt from assigning any future windfall rights. A list of these categories are available from the Society.

The above is only a summary of the charitable assignment arrangements, the complete terms of which are set out in the Society's share account application forms.

If you need any further information, please contact the Society.