"Safer savings" deal with leading building society

An agreement has been reached between Cornish financial experts and one of the UK’s largest building societies to help provide people in the county with a safer home for their savings.

The deal between the Skipton Building Society and a group of advisers known as BetterOffCornwall will allow Cornish savers to access low-risk investment products which have not previously been available in the county.

The scheme is designed to help risk-averse savers worried by the banking crisis or still concerned about putting all their money into the stock market or property.

Skipton Building Society has no branch offices in Cornwall and this partnership gives residents of the county an easy way to transact with the building society via BetterOffCornwall members.

The move has been made possible following the decision of five Cornish financial advice firms from Penzance, Falmouth, Truro, St Austell and Redruth to share resources under the BetterOffCornwall brand.

Now savers in Cornwall can choose from the five-year fixed-rate “BetterOffCornwall Bond”, or the “BetterOffCornwall Regular Savings Account”.

Tim Bowcock, spokesperson for BetterOffCornwall explained: “The aim of BetterOffCornwall is, quite simply, to make Cornwall better off! Bringing new financial products to the county is just one way we’re doing that. We’re pleased that the Skipton, one of the country’s top five building societies has recognised the work we are doing.”

More information on BetterOffCornwall is available from www.betteroffcornwall.com or by calling the five member firms from across Cornwall.

These are Kelsall Steele in Truro, Rhodri Evans 2Plan in St Austell, JLT iimia Wealth Management in Falmouth, 1st 4 Mortgages in Redruth and Jacksons Financial Services in Penzance.

BetterOffCornwall is part-funded by the Partner to Succeed element of the Convergence Programme.

Negotiations with the Skipton Building Society began after the unique collaboration made headlines in the national financial press.

Tim continued: “As a mutual, the Skipton is run for the benefit of its members, not shareholders and that fits our ethos perfectly. But it’s important to remember that independent financial advisers, like those in BetterOffCornwall, will only recommend a product if it’s right for your circumstances.”

Jon Rawley, Intermediary Sales Manager at the Skipton Building Society commented: “The agreement between ourselves and BetterOffCornwall means everyone wins, especially those savers in Cornwall who might not otherwise have accessed these types of account. I’d urge anyone who’s keen to protect their savings to contact their local BetterOffCornwall adviser.”

Skipton is the UK’s fourth largest building society, with approximately 850,000 members and £15.2bn of assets.

More information on the products is available from www.betteroffcornwall.com.

ENDS

For more media information, interviews or images, please call Tim Bowcock on 01872 306403.