We are working hard to maintain the best service we can for you. As you can imagine our telephone lines are exceptionally busy at the moment. So we are asking for your help too.
In the interests of the health of both our customers and our staff, please avoid visiting our branches unless necessary. Please telephone your local branch direct if you have any queries or to register to use our online services.
To reduce the risk to our branch staff and customers, from 8 June our branch opening hours will temporarily be: Monday to Friday 9am – 3pm (closed for lunch 12pm – 1pm). We are currently closed on Saturdays. Branch telephones will be open 9am to 4.30pm Monday to Friday.
From 8 June our telephone opening hours at Principal Office will be 9am – 6pm Monday to Friday.
We apologise for any inconvenience this may cause.
Please beware of the following phishing email scam – National Trading Standards have passed on an alert about a phishing scam based on impersonating correspondence from the Government’s Job Retention Scheme.
An example message is provided below – the typos are the fraudsters’ own work:
“Dear customer, We wrote to you last week to help you prepare to make a claim through the Coronavirus Job Retention Scheme. We are now writing to tell you how to access the Covid-19 relief. You will need to tell your us which UK bank account you want the grant to be paid into, in order to ensure funds are paid as quickly as possible to you.”
According to data from the Home Office and charities supporting victims, the pressures of living under COVID lock-down have caused a rapid increase in cases of domestic abuse. Abuse can take the form of coercive control, deliberate neglect and verbal or physical aggression. It often involves economic abuse (coercive control of the victim’s finances to steal their money and / or deny them the right to spend it). We’re supporting the Government’s campaign to raise awareness about help for victims of domestic abuse. You can find further guidance on how to get help here: https://www.gov.uk/guidance/domestic-abuse-how-to-get-help
Scammers are sending emails posing as the Zoom download manager asking the recipient to complete their download by clicking “next”, which releases malware when clicked. The only safe way to set up Zoom for personal use is to go on the Zoom official website and download it yourself.
Please beware of a new text scam purporting to be from the Government which informs the recipient via a text that they have been issued a £250 fine for leaving the house during the lock-down as the Government have been tracking their movements using their phone. The recipient is told that if they don’t pay immediately they will incur a heavier fine and encouraged to click on a link to make the payment which may deliver malware as well as taking the payment and their account details.
During the coronavirus outbreak, many companies and organisations have sent emails containing COVID19 updates to their customers to make them aware of their current response and status. As these types of emails have now become increasingly frequent, criminals have started to use this familiarity to their advantage. These fraudulent emails, framed as a corporate COVID-19 response, contain malicious attachments and are targeting individual consumers and companies alike…
Emails may also be disguised as coming from a hospital that inform the recipient they may have come in contact with an individual who tested positive for COVID-19. The email instructs the recipient to download an attached Excel file, complete a form, and bring it to the nearest hospital. Once the attachment is downloaded, the malware has been activated and the attackers may be able to access your data.
Please keep in mind that typically, legitimate COVID-19 response emails have a message only in the body of the email and do not contain attachments.
There is some evidence that criminals are attempting to use the current COVID-19 situation as an exploitation opportunity, so please be extra vigilant before clicking on an email about the coronavirus outbreak. If a claim sounds too good to be true, it probably is.
Criminals use exceptional circumstances like the current situation as a chance to pose as employees of a genuine organisation such as building society, bank or police and target you for fraud scams. They may claim they are dealing with coronavirus-related issues that require you to respond by paying money or providing personal information that will allow them to access your account. They often use pressure tactics to stop you thinking about want they want you do for them.
To help you stay protected, here are some things that we will never do:
Please remain vigilant.
Stop – Take a moment to think.
Challenge – Don’t be afraid to ask questions or to say “No” and end the conversation.
Protect – Contact the building society or the bank from which you have made a payment immediately if you think that you have been the victim of fraud.
We understand that some customers may be worried about the effect that contracting the Coronavirus (COVID-19) could have on their finances, for example due to a drop in income as a result of contracting the virus or because of the measures imposed to stop it spreading. If you have any concerns about how this could affect you and your mortgage, please click here to read the leaflet produced by the Building Societies Association and National Debtline or please get in touch on 01664 414141.
Please click here to see a list of Frequently Asked Questions for our members.
The Melton Building Society
|Account Name||Online Offset Share|
|What is the interest rate?||
You will not earn any interest on any balance in the Online Offset Share account as any investment up to the maximum limits permitted is being used to reduce the amount of interest charged on your mortgage.
Offset Share accounts are the only savings accounts which can be linked to a mortgage. An Offset Share can only be linked to one mortgage. The mortgage will be linked with an Offset Share to reduce the amount of interest charged on the mortgage. Mortgage interest will be calculated on the daily difference between the mortgage balance and the share account balance.
Subject to any future changes in legislation by the Inland Revenue, as you will not be receiving interest on your Offset Share account, you will not be liable to Income Tax on your Offset Share account.
|Can the Melton Building Society change the interest rate?||
|What would the estimated balance be after 12 months based on a £1,000 deposit?||
As no interest is paid on this account, if you deposited £1000 in this account, after 12 months you would have £1000.
|How do I manage and open my account?||
This account is only for UK resident individuals aged 18 or over who have a mortgage with the Melton
For the online option, your account will be opened manually by a member of staff upon completion of your mortgage but operated online by you. Alternatively, you can request to open an Offset Share after completion has taken place.
Once open you will have easy access to your savings 24/7 which will allow you to manage your account via our website.
Accounts can be opened and managed with a nil balance. You can invest and maintain up to 20% of the current balance of your mortgage to a maximum of £250,000.
Any savings in excess of the 20% limit will not be included in the share balance when calculating the daily difference between your mortgage and share balance.
We do not assume the responsibility to notify you if the Offset Share account balance exceeds the 20% allowance and you are not receiving any real benefit on the excess.
Your monthly mortgage repayments will not be adjusted either up or down as a result of the amount held in an Offset Share account linked to your mortgage.
You may make withdrawals from the Offset Share without notice or penalty, subject to branch, or online limits. There is a maximum daily withdrawal limit of £10,000.
|Can I withdraw money?||
Easy Access - you can transfer funds from your account online without notice or penalty to a nominated bank/building society account.
When you withdraw funds, interest is calculated up to the day prior to the withdrawal being made for the purpose of calculating the daily difference between the mortgage balance and the Offset Share account balance.
Withdrawals are subject to the limits explained in our savings terms and conditions.
This is a summary of the key features of this account. You will still need to read the savings terms and conditions.
If upon redemption of the mortgage we have not received any instructions to either transfer the Offset Share or to close the account, the account will be transferred to our Instant Access Share account.
Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturday.
Leave your details and we will call you back.