Mortgage Lenders UK

The Earl Shilton Building Society has moved to further protect its account holders' funds by announcing a change to its third party withdrawal procedure.

With effect from 1st April 2010, withdrawals by third parties from the Society's savings accounts will still be allowed. However, following the withdrawal the passbook will now be retained by the Society and returned directly by post to the account holder's registered correspondence address.

Neville Thompson, Chief Executive at the Earl Shilton Building Society, comments, "The decision to introduce this change to our third party withdrawal procedure has been taken in the best interests of our account holders. Nobody means more to us than our customers and the security of their funds is of the utmost importance to everyone at the Society. This extra measure will simply provide further protection for their money and brings us in line with many of our fellow building societies."

Of this, £5,100 can be invested tax-free in a cash ISA, with the balance in stocks and shares. Alternatively, the whole sum can be invested in the stock market.

The changes first came into effect last October for people aged 50 or above (by 5th April 2010), and staff at the Earl Shilton Building Society have reported huge interest in savers topping up their accounts as a result.

Neville Thompson, Chief Executive at the Earl Shilton Building Society, comments, "The increase in ISA limits last October for investors aged over 50 proved a very popular move and gives a strong indication that consumers still believe that savings accounts remain a safe and reliable way for money to grow. April is always a busy month for opening new ISA accounts but we predict this year could be particularly busy as people look to take advantage of these increases."

The Earl Shilton Building Society has a range of savings accounts currently available, including the Heritage account for the over 50s, an Early Saver Account, a Regular Monthly Saver and the Foundation Account. Its Cash ISA rates have also been consistently among the top five rates over the last 18 months according to online financial experts at www.moneyfacts.co.uk.

To find out more information, please visit either branch at 22 The Hollow, Earl Shilton or 7 Malt Mill Bank, Barwell. Alternatively you can call 01455 844422, email enquire@esbs.co.uk or visit the website at www.esbs.co.uk.

Youngsters lucky enough to receive money over Christmas are being encouraged by a local building society to have one eye on the future and put some of it aside for savings.

With the January sales just around the corner and a whole host of new toys and games available it is easy to understand why children want to spend, spend, spend straightaway. However with parents increasingly conscious of the need for their youngsters to start a savings habit early, what better place for them to begin than with one of two ideal savings accounts at the Earl Shilton Building Society.

Both its Early Saver and Foundation accounts are flexible saving schemes ideal for children and young people under 18 and 21 respectively, whose parents wish to control their savings for the first few years. Both accounts can easily be changed to the child's name when they grow older and want to get into the habit of saving and even withdrawing their money themselves.

The Early Saver is a savings account for young people up to the age of 18. With a minimum balance of £1 and a maximum balance of £1,000 this instant access account would be a perfect location to save any birthday or pocket money at other times throughout the year. It also features variable interest rates, occasional free giveaways and once the age of 18 is reached, the account will automatically be converted into a Double Top Account, which may pay a lower rate of interest.

Alternatively, for the more serious saver, the Society offers the Foundation Account. With a minimum investment and operating balance of £250 this account has a maximum investment of £10,000 and is limited to just three withdrawals per year. A fourth withdrawal closes the account, with the customer then unable to open a new Foundation Account for 12 months. The account is limited to one per child and once the age of 21 is reached, automatically converts into an instant access account, which may pay a lower rate of interest.