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Scarborough Building Society

The Scarborough and North and East Yorkshire Permanent Building and Investment Society was formed in May 1846. The current name was introduced in 1903.

The Society's initial objectives were of providing a safe haven for investors' money - and the finance to enable people to build or buy their own homes. The original investment rate was 5% and the first mortgage was for £120. These objectives still hold true today with our commitment to mutuality.

In 1939 the Society opened its first Head Office, when York House was built in York Place, Scarborough, providing both office accommodation and a full branch. Today the building is still in use as a premier branch in Scarborough, and the home of our Direct Morgage Centre.

The first Scarborough Building Society out of town branch was opened in Bridlington in 1955, and from then onwards new branches were opened throughout Yorkshire and into Teesside and the East Midlands.

Direct postal and telephone services were embraced in the early 1990s and their Investments Direct Service was created in 1991, taking the Scarborough investment brand to the whole of the United Kingdom. In 1998 our direct service for mortgages was formalised with the opening of our Direct Mortgage Centre, which has been an outstanding success.