Newbury Building Society is an independent mutual building society based in Berkshire. Founded in 1856, it is a "traditional" lender with a modern approach to complex borrowing needs.
Important Distinction: Unlike high-street banks that rely almost entirely on automated credit scoring ("computer says no"), the Newbury uses manual underwriting. Every mortgage application is assessed by a human being.
This makes them a "go-to" lender for borrowers who don't fit the standard mould - such as Foreign Nationals, Expats, and those buying via Shared Ownership.
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Lender Details
Product Details
About Newbury Building Society
The Society operates a network of branches in Berkshire, Hampshire, and Oxfordshire, but it lends across England and Wales for its specialist mortgage products.
Their lending philosophy is built on the "individual approach." They do not use a credit scorecard to make a pass/fail decision. Instead, they look at the "story" behind the application, allowing them to lend to people with complex income, foreign currency earnings, or unusual employment contracts.
Mortgage Products
Newbury Building Society offers a diverse range of products, with a focus on niche markets:
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Shared Ownership:
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They are a leading lender in this sector.
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They lend up to 95% of the share value (not just the full property value), helping buyers with small deposits get onto the ladder.
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They also support "staircasing" (buying more shares in your home later on).
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Foreign Nationals & Expats (Key Specialism):
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Foreign Nationals in the UK: They lend to foreign nationals living in the UK on a visa (e.g., Skilled Worker Visa), often without a minimum time of residency requirement, provided you have a job and a route to permanent residency.
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Expats: They lend to UK nationals living abroad who want to buy a home in the UK (either to rent out or for their family to live in). They accept income in many foreign currencies (USD, EUR, etc.).
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Residential Mortgages:
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Complex Income: They take a flexible view on self-employed applicants, contractors, and those with multiple income streams.
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Joint Borrower Sole Proprietor (JBSP): A way for parents to support a child's mortgage application using their income, without being named on the title deeds (avoiding stamp duty issues).
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Consumer BTL: For "accidental" landlords (e.g., renting out your old home).
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Holiday Lets: They lend on properties used for short-term letting (Airbnb/holiday rentals).
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Limited Companies: They lend to SPVs (Special Purpose Vehicles).
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They offer mortgages for people building their own home, releasing funds in stages as the build progresses.
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Pros and Cons of Newbury Building Society
Here is a balanced overview of choosing this lender.
Pros:
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Manual Underwriting: If you have a complex visa situation, foreign income, or a slightly unusual credit history, a human underwriter will look at your case on its merits.
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Shared Ownership Experts: They understand the nuances of housing associations and leasehold clauses better than most big banks.
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Visa Friendly: One of the few lenders who can help foreign nationals who have recently arrived in the UK (subject to criteria).
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Customer Service: They consistently win awards for high service standards, with a focus on speaking to real people rather than chatbots.
Cons:
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Slower Process: Because a human reviews every document, the "time to offer" can be slower than an algorithmic bank that gives an instant decision.
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Higher Rates: Specialist manual lending is expensive to operate, so their interest rates are typically higher than the "best buy" rates from giants like HSBC or Nationwide.
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Geographic Restrictions: While they lend nationally for many products, some of their high-LTV residential deals may be restricted to their "local operating area" (Berkshire and surrounding counties).
Customer Service and Reviews
Newbury Building Society has an excellent reputation.
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Smart Money People: They frequently score 4.9 out of 5 in industry reviews, with borrowers praising the "common sense" approach of the underwriters.
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Trustpilot: They generally hold a rating of 4.5+ out of 5, with customers often citing the friendly, personal nature of the branch and telephone staff.
How to Apply
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Through a Broker: For Expat, Foreign National, or Shared Ownership mortgages, it is highly recommended to use a mortgage broker. These applications require specific evidence (visa proofs, foreign payslips) that a broker can package correctly for the underwriter.
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Direct: For standard residential mortgages or savings, you can book an appointment directly via their website or by visiting a branch (if you live locally).
Get started here to begin a free, no-obligation chat with a mortgage broker who specialises in Newbury’s product range, can compare it against the alternatives for you and help you get the best deal.