Family Building Society

What Family Building Society does

Family Building Society operates as a trading brand of National Counties Building Society, a UK mutual building society founded in 1899 and headquartered at Ebbisham House in Epsom, Surrey. The society serves over 69,000 individual account holders with a focused portfolio of savings products (easy access, bonds, ISAs, notice accounts, children's savings, Market Tracker, Windfall Bond) and mortgage lending (owner-occupier, buy-to-let, later life, expat, specialist), differentiated by family-assisted borrowing products including the Family Mortgage (100% LTV using family member security) and Joint Borrower Sole Proprietor (JBSP) arrangements. It targets underserved borrower segments including first-time buyers lacking deposits, later life borrowers rejected by ageist lending criteria, expats purchasing UK property, and savers seeking FSCS-protected returns.

The technology stack consists of a digital banking platform with online service capabilities for savings and mortgage account management, supplemented by a physical branch in Epsom, phone-based customer service teams, and a dedicated intermediary portal at intermediaries.familybuildingsociety.co.uk for mortgage brokers. Core integrations include Mimecast for secure customer messaging and the three major UK credit reference agencies (Equifax, TransUnion, Experian) for credit decisions and identity verification. A proprietary Family Mortgage Affordability Model, upgraded in 2025, increases maximum borrowing power by up to 25% for borrowers underserved by major high street lenders.

The business model is a classic mutual building society net interest margin structure: deposits are raised through savings products (including the Online Saver (12) at 4.15% Gross AER on balances of £100+) and lent out as mortgages at higher rates (JBSP fixed rates from 5.29% to 6.14%, with product fees of £599–£999). Additional revenue comes from mortgage application fees (£175–£2,620 depending on property value band) and third-party partner referral payments. Distribution combines direct-to-consumer channels (website, Epsom branch, phone) with an intermediary broker network, with the society authorized and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number 206080).

Name

Family Building Society

Legal name

National Counties Building Society

Website

https://familybuildingsociety.co.uk

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

101–250 employees

Short description

Family Building Society is a UK mutual building society offering savings accounts and mortgages, differentiated by family-assisted lending products including the 100% LTV Family Mortgage and Joint Borrower Sole Proprietor arrangements serving first-time buyers, later life borrowers, and expats.

Ownership category

akta.pro rank

Product category

Building Society Savings and Mortgage Lending

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Building Societies (Mutual Mortgage/Retail Banks) (FSABAEAE)

Keywords

• Building society savings
• Residential mortgage lending
• Family-assisted mortgages
• Later life lending
• Buy to let mortgages

Headquarters

HQ city

Epsom

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mortgage Lending: Interest income generated from mortgage loans including owner occupier, buy to let, later life, expat, and family-assisted mortgages. Revenue comes from mortgage interest rates and associated fees.
2. Savings Account Interest: Interest paid to savers on various savings products including easy access, bonds, ISAs, notice accounts, and tracker accounts. Acts as the funding source for mortgage lending operations.
3. Mortgage Application and Product Fees: Application fees starting at £175 for owner occupier products, valuation fees, product fees ranging from £599-£999, and various administration charges for mortgage-related services.
4. Third-Party Partner Payments: The Family Building Society receives payment from partners where an introduction to their services leads to a transaction taking place.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Family Building Society is a UK mutual building society (trading name of National Counties Building Society) that accepts member savings and lends via residential, family-assisted, later-life, expat, buy-to-let, and self-build mortgages. Its flagship differentiator is the Family Mortgage (100% LTV with family support) and Joint Borrower Sole Proprietor (JBSP) lending, which allow family members to assist affordability without being legal owners of the property.

Product overview

Family Building Society offers a comprehensive financial services portfolio centered on savings and mortgage products. The core offerings include savings accounts (easy access, bonds, ISAs, notice accounts, children's savings, Windfall Bond) and mortgages (Owner Occupier, Buy to Let, Later Life, Expat, Specialist). Key differentiated products include the Family Mortgage (100% LTV with family security) and Joint Borrower Sole Proprietor (JBSP) for family-assisted lending. The society also provides digital banking through its Online Service platform, various mortgage and savings calculators, and insurance products. With over 125 years of history and 69,000+ account holders, the building society focuses on serving underserved borrowers including first-time buyers, later-life borrowers, and expats.

Differentiator

Problem solved

Functional benefit

Brands

• Family Mortgage: A 100% LTV mortgage product allowing family members to use their savings and/or equity in their property as security to help borrowers with little or no deposit purchase a home.
• Joint Borrower Sole Proprietor (JBSP)
• Windfall Bond

Products and services

• Savings Accounts A range of FSCS-protected deposit accounts for UK retail savers, including instant access, notice accounts, fixed-rate bonds, and ISAs (Cash ISA, Junior ISA). Designed for member savers of the mutual building society seeking competitive returns and FSCS protection.
• Online Saver (12) A fixed-rate online savings bond (12-month term) opened and managed through the Family Building Society Online Service, targeting digital-first savers seeking a competitive fixed return.
• Windfall Bond A fixed-rate savings bond offering a defined term and competitive headline rate to members opening or renewing savings.
• Residential Mortgages Standard residential purchase and remortgage products for owner-occupiers in the UK, offered across multiple LTV tiers and fixed or tracker rate options.
• Family Mortgage 100% LTV residential mortgage that uses a family member's income, savings, or both to support affordability, while the family member is not a legal owner of the property. Designed for first-time buyers and home-movers who cannot qualify on their own income but have family support.
• Joint Borrower Sole Proprietor (JBSP)

Quantifiable outcome

• 25% increase in maximum borrowing power for underserved borrowers through upgraded affordability model
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Principality Building Society: Welsh-based mutual building society offering savings, mortgages (including family-assisted and later life), and a branch network. Closely comparable mutual structure and product mix, with overlapping focus on underserved borrowers and intermediary distribution.
• Tembo: UK specialist mortgage broker and lender focused specifically on family-assisted and Joint Borrower Sole Proprietor (JBSP) mortgages. The most direct competitor to FBS's flagship family lending products, with overlapping target customer segments (first-time buyers using family income support).
• Skipton Building Society: Major UK building society with a strong mortgage franchise including first-time buyer, family-assisted, and later life lending. Closely comparable in mutual structure, savings-funded lending model, and emphasis on underserved borrower segments, with a similar intermediary distribution strategy.
• Bath Building Society: Smaller UK mutual building society offering savings and mortgage products including family-assisted and later life lending. Closely comparable in scale, mutual structure, and product specialization, with similar emphasis on serving borrowers underserved by high street lenders.
• Hanley Economic Building Society: Small UK mutual building society offering savings and mortgage products with a focus on personal service. Comparable in scale (~£500m+ assets) and mutual building society model, with similar product breadth across savings and residential mortgages.

Emerging players

• Generation Home: UK specialist mortgage lender using family-network lending models including JBSP and income-boosting products. Comparable to FBS in its target segment of borrowers needing family financial support to qualify for mortgages, though operating more as a fintech-led challenger than a traditional building society.

Regional players

• Newcastle Building Society: Regional UK building society headquartered in the North East, offering savings and mortgages with a focus on owner-occupier and buy-to-let lending. Comparable mutual model and product breadth, though with a primarily regional geographic concentration differing from FBS's England and Wales coverage.

Broad incumbents

• Coventry Building Society: Top-tier UK building society offering savings accounts and a wide mortgage range. Shares the mutual building society business model and FSCS-protected deposit base with Family Building Society, competing in similar customer segments with greater scale and brand reach.
• Nationwide Building Society: The UK's largest building society and mutual, offering a full range of mortgages and savings products. Compares directly to Family Building Society in business model (mutual building society, FSCS-protected deposits, mortgage-led revenue) but at vastly greater scale and broader product scope.
• Yorkshire Building Society: One of the UK's largest building societies, formed through mergers of regional mutuals. Competes directly in the savings and mortgage market with similar products (including family-assisted and later life lending), but with significantly larger asset base and broader geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/familybsoc
• Facebookfacebook.com/FamilyBSoc
• LinkedInlinkedin.com/company/national-counties-building-society

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Family Building Society