History

Barnsley Building Society was formed in 1853 as the Barnsley Permanent Benefit Building Society with the goal of "enabling persons to purchase their own residences, or other freehold or leasehold property, to pay off mortgages, or to invest money profitably". The Barnsley became incorporated under the Building Societies Act of 1874.

Its humble beginnings started above a grocer's store then moved to a larger office space in 1890. In 1873 branches were opened in Mexborough and Clayton West, and in 1938 it moved to Permanent Building in Barnsley. By 1953 the Barnsley had grown to fifteen branches spanning Dartford in Kent to Blackpool. Assets at that time exceeded five million pounds with half a million in reserve funds. During the 1970s the society rejected opportunities for possible mergers with the South Yorkshire BS and the Elsecar, Hoyland and Wentworth Saving society who were smaller local societies that were looking for merger partners. In the late 1970s though with increased competition, they downsize to only one office and part time agencies at Wombwell and Mexborough.

It recovered well by 1986 and during the 1990s more branches were opened and they carried out several expansions, some of which were closed at a later date. On 31st December 2008 the Barnsley merged with Yorkshire Building Society, the UK's second largest building society. Following the merger the Barnsley retained the Barnsley Building Society brand and currently has 8 branches. And even though it became a trading name of Yorkshire Building Society, the name Barnsley still exists. Barnsley Building Society continues to provide a range of mortgage, savings and insurance products, and has won a number of awards for its community aid schemes.

Remortgages offered through the Barnsley Building Society

Remortgages are offered by the Barnsley Building Society through a variety of options such as 2 Year Fixed Rate Mortgages, 5 year Fixed Rate Mortgages, and 2 Year Bank of England Tracker Mortgages.

Options through Barnsley Building Society mortgages include:

• Fixed Rate: the initial mortgage rate is fixed for the first 5 years. It then reverts to a variable rate for the rest of the mortgage term. An administration fee applies. This is a portable product. An early repayment charge applies for the first 5 years. A higher lending charge may apply.
• Bank of England Tracker: are linked to the Bank of England base rate plus a small amount above this rate. The amount you will pay will vary according to the movement of the base rate. A tracker rate mortgage would mean you would benefit if interest rates are reduced.
• Discount: the initial mortgage rate is set at a discount variable rate. Barnsley Building Society has discount products for 2 and 4 years. Your rate will depend upon which product you choose and how much you want to borrow. There is no administration fee. This is a portable product. An early repayment charge applies for the first 5 years. A higher lending charge may apply.