Market Harborough Building Society

Market Harborough Building Society is a Leicestershire building society, established in 1870, that lends on property and takes savings deposits¹. It is incorporated under the Building Societies Acts and is a member of the Building Societies Association². Its principal office is Newcombe House, 16 The Point, Market Harborough, Leicestershire LE16 7QU³.

The society's lending covers residential mortgages, buy to let and holiday let mortgages, bridging and other short-term loans, and joint borrower sole proprietor mortgages, alongside a range of savings accounts. It appears on the Bank of England's Prudential Regulation Authority list of building societies incorporated in the UK, under firm reference number 206041⁴. Its website is mhbs.co.uk, where its current rates, fees and product terms are published.

What the society offers at a glance

Market Harborough Building Society is a mutual, not a bank: it is incorporated under the Building Societies Acts, which means its business is taking savings deposits and lending them out mainly on property². Holders of its share accounts are members of the Society and bound by its Rules, and on a joint account only the first named saver holds membership rights, such as the right to receive notices of, and to attend and vote at, meetings of the Society⁸.

On the lending side the society offers residential mortgages for people buying or remortgaging a home, buy to let and holiday let mortgages for landlords, bridging and short-term loans, and joint borrower sole proprietor mortgages that let a family member support a borrower's application⁵. On the savings side it offers savings accounts, operated through branches, by post and through an Online Service¹⁰. Its mortgage balances grew to over £500m in 2022, which gives a sense of its size: a small society by bank standards, but a substantial lender¹¹.

The society publishes its own product pages and fee documents at mhbs.co.uk, and this page explains how its products and charges work rather than quoting today's rates, which change frequently. For the wider picture of how these products compare across the market, see our guides to mortgages and savings accounts.

Residential, buy to let and holiday let mortgages

The society lends on properties across England and Wales⁵, and its bridging range also covers mainland Scotland for residential purposes⁶. It maintains two separate sets of mortgage conditions, one for England and Wales and one for Scotland, so the legal document that governs your mortgage depends on where the property is³. Both carry the same warning: as a last resort, your property may be repossessed if you do not keep up with payments³.

The Scottish conditions are governed by Scots law, and where a Scottish mortgage is secured over heritable property the Standard Conditions specified in Schedule 3 to the Conveyancing and Feudal Reform (Scotland) Act 1970 apply, subject to the society's variations. The courts of Scotland have exclusive jurisdiction over disputes arising from a Scottish mortgage². The England and Wales conditions are the society's own document, and notices the society sends by pre-paid post to your last known address are deemed received 48 hours after posting³. In both cases the society will communicate with you in English, and all documents it sends you and uses will be in English².

Buy to let and holiday let lending is aimed at landlords, including those letting to holidaymakers. The society publishes a holiday let question and answer page covering how that lending works⁵. There is no upper age limit on the society's lending, which distinguishes it from many high street lenders, where the maximum age at which the mortgage term can run is typically between 70 and 75⁶. For how residential mortgages work generally, see our mortgages guide and our guide to buying a home.

Bridging and short-term loans: who they are for

Bridging finance is short-term borrowing, typically used to buy or refurbish a property before longer-term funding is in place. Market Harborough's Core Bridge range is aimed at borrowers who need speed: the society advertises a decision in principle within four working hours and an offer within five working days, backed by a service guarantee under which it donates to a charity of the customer's choice if it misses its standards⁶.

The range is distinctive in several ways. Lending is in personal names only, so limited companies cannot apply. Terms are 12 months, with terms of up to 60 months available for high net worth clients. The society offers both regulated and unregulated scenarios, with unregulated lending available in England and Wales, and its territorial coverage is England, Wales and mainland Scotland for residential purposes. Dual representation, where one solicitor acts for both the society and the borrower, is available on loans up to £2m⁶.

Because bridging loans are short-term and often used for properties in the course of development or renovation, the fee structure differs from a standard mortgage: there are re-inspection fees where funds are released in stages, and separate legal representation is required on some loans, with those solicitor costs charged directly to the borrower and advised at the outset¹². Bridging is a specialist product and not right for every purchase; our loans guide covers the wider borrowing options.

Joint borrower sole proprietor mortgages

A joint borrower sole proprietor (JBSP) mortgage allows a parent to help their child buy a home by joining their mortgage. The key feature is that the parent's income counts towards affordability, but the parent does not go on the property's title deeds, so the child avoids the stamp duty surcharge that can apply when a second property is added to someone's name⁹.

Market Harborough is one of the building societies that offers JBSP mortgages, alongside others in the sector such as Furness and Hinckley & Rugby⁹. It is a niche product, and the detail of how each society applies it, including any age caps and how the borrowers' incomes are assessed, varies from lender to lender, so the society's own criteria should be checked before applying. Our mortgages guide explains how affordability assessment works across the market.

How mortgage fees and charges work

The society publishes a residential fees tariff covering its residential, buy to let and holiday let mortgages, with charges that apply from 1 March 2026¹². Rather than quoting amounts, which the society may change, it is more useful to know which charges exist and what triggers each one.

• Application fee: charged on residential, buy to let and holiday let applications, and on short-term applications, at different levels. It is payable even if your application is unsuccessful or you withdraw it¹².
• Product fee: varies and is established at the outset. It can be paid up front or added to the mortgage amount, in which case interest is charged on it at the same rate as the rest of the borrowing¹².
• Valuation fee: varies depending on property type, and some mortgages include a free valuation¹².
• Re-valuation fee: applies where a property is re-valued, and varies, established at the outset¹².
• Funds transfer fee: charged for electronically transferring the mortgage funds to you or your solicitor¹².
• Re-inspection fee: applies to stage-release mortgages used to renovate the home, with larger fees possible for larger complex properties in the course of development or renovation¹².
• Change of repayment arrangements: a charge of up to 2.00% of the outstanding balance can apply to the agreement of a change in repayment arrangements or a term extension on short-term (less than five-year) mortgages¹².
• Early repayment charge: varies depending on the mortgage contract, and may apply if you overpay more than your terms allow, switch product or lender during a special rate period, or repay the mortgage in full before the term ends¹².
• Legal fees: vary and are established at the outset, normally charged directly by the solicitor. On short-term or bridging loans, and on loans over £2m, separate representation is required and those costs are charged by the solicitor directly to you¹².

One important protection sits in this tariff: the society states it will not charge you any fees if you are unable to make your mortgage payments. Repossession-related charges may apply later depending on circumstances, and third party costs may be added to your account¹². Today's amounts for every charge above are in the tariff on the society's website.

Who can borrow and where the society lends

The society's lending criteria are set out in its product documents. Lending is in personal names only, which rules out limited company borrowers. The bridging range lends between £200k and £5m, at up to 70% loan to value⁶. For residential purposes the society's territorial coverage is England, Wales and mainland Scotland⁶, and its standard mortgage lending is on properties across England and Wales⁵.

There is no upper age limit on the society's lending⁶. That matters because many high street lenders restrict the maximum age at which they allow the mortgage term to run, typically to between 70 and 75⁹, so borrowers expecting to still have a mortgage in later life may find the society's approach relevant to their circumstances. As with any lender, affordability still has to be demonstrated.

For mortgage applications, physical identification is required in every case, even where the society can verify identity electronically for savings accounts¹. The society also retains standard rights in its mortgage conditions: it may transfer some or all of its rights under the agreement, including the security, to any person, whether or not a building society, without the borrower's consent². This is a common feature of mortgage lending, and does not change the borrower's obligations.

If you cannot make your mortgage payments

The first thing to know is that the society will not charge you any fees if you are unable to make your mortgage payments¹². That does not make the problem go away: under the society's mortgage conditions, an event of default includes being in arrears in an amount equal to two monthly payments or more². The conditions carry the standard warning:

If you are struggling, contact the society before payments are missed rather than after. Repossession-related charges may apply later depending on circumstances, and third party costs may be added to your account¹². Free, impartial help is available: MoneyHelper and debt advice charities can talk through your options, and our debt guide sets out the solutions available and your rights.

Savings accounts and how changes to their terms are notified

The society offers savings accounts operated through branches, by post and through its Online Service. Its terms set a maximum amount that may be saved with the society per individual, stated in the account terms on its website⁸. When you apply for an account online, a UK mainland bank account in your name must be linked to the savings account, and no withdrawals are permitted until that linked account has been verified¹⁰. Joint account holders must register separately for the Online Service¹⁰.

The society does not issue statements for savings accounts, because transaction details are available in your account document and through the Online Service. Whenever you make an electronic payment from your account, the society will send a payment notification letter or secure message within one month¹⁰. If you send the society a message, it aims to respond within three working days⁸.

How the society can change its terms is tightly regulated, and the rules differ by account type. For accounts with no notice period for withdrawals, the society must notify you at least 14 days before a change that is not to your advantage takes effect⁸. For accounts with a notice period, the society has two routes, and it must take one of them:

• notify you at least seven days plus your normal withdrawal notice period before the change takes effect, leaving your withdrawal terms unchanged; or
• notify you at least 14 days before the change takes effect, in which case you get a window to close or withdraw from your account without the notice that would normally apply⁸.

The length of that exit window is changing. The 2025 terms give 60 days⁸, but an amendment effective from 4 April 2026 reduces it to 30 days¹³. Where a change is to your advantage, the society may make it immediately and publicise it on its website or in branches within 30 days. An interest rate change is not treated as material where the account balance is less than £100 at the time notice is given¹³. Changes to terms dealing with automated payments carry two months' notice by letter, email or other personal notice¹⁰. As general guidance, a bank or building society should tell you about changes to terms and conditions at least two months before they are made¹⁴. The society can also repay all or part of your savings at any time, without giving a reason, after giving you at least two calendar months' notice, except where savings have been accepted for a fixed term or an unexpired notice period⁸. For notice accounts, if the transaction for which notice was given has not been carried out by the seventh calendar day after the proposed withdrawal date, the notice is deemed to have expired¹⁰.

For how savings accounts work across the market, including notice accounts and fixed terms, see our savings guide.

Opening an account: the identification you will need

To comply with money laundering regulations, the society must obtain and record identification for each new customer, in some cases existing customers, and anyone connected to the account¹. Verification is normally undertaken by electronic means, but if the electronic process does not provide sufficient evidence, the society needs documentary evidence: one document from each of two lists, and the same document cannot be used to confirm both identity and address¹. For mortgage applications, physical identification is required in every case, and the society cannot accept online copies of documents¹.

Acceptable identity documents include a full current passport, an EEA member state ID card with photograph, a UK photo card driving licence (full or provisional), a full UK driving licence, an HMRC letter such as a tax notice of coding, a notification letter from a government department such as the DWP or the Benefits Agency, a current EU national ID card, a National Insurance card with a recent P60 or payslip showing the NI number and name, and a firearms certificate. For under 18s, a birth certificate, NHS medical card or a government notification letter such as a child benefit entitlement letter can be used¹.

Documents confirming identity or address have age limits: those in the first group, such as bank statements, bills and a P60 or payslip, must be less than three months old, and those in the second group, such as a council tax bill, HMRC letter, government notification letters, a tenancy agreement or a care home letter, must be less than 12 months old¹. For applications made by post or online, a second piece of documentation from the address list is required, or alternatively a personal cheque payable to the account holder, drawn from a different account to the statement provided for address verification¹.

Copies of documents can be accepted for postal applications, but they must be signed and dated by a professional, with their name, address, telephone number and profession provided. The society advises customers not to send original passports or driving licences through the post. Acceptable certifying professions include lawyer, banker, justice of the peace, medical practitioner, teacher, embassy or government official, authorised financial intermediary, accountant, chartered surveyor, minister of religion, notary public and the Post Office¹. Special rules apply to connected parties such as trustees, attorneys, receivers, executors and administrators, and holders of third party mandates¹. Where a trustee account is opened for a child by someone other than a parent or guardian, evidence of the parent or guardian's address is also required, and for organisation accounts opened online the society requires the number of authorised persons to be specified, to a maximum of two¹.

Contact, complaints and service record

The society's main contact number is 01858 412412, and copies of terms and conditions can be requested from its branches or by contacting that number¹⁵. Its principal office is Newcombe House, 16 The Point, Market Harborough, Leicestershire LE16 7QU³; earlier documents give the address as Welland House, The Square, Market Harborough, LE16 7PD¹⁵, so the head office has moved within the town. The society's chief executive is Iain Kirkpatrick¹¹.

For account queries, the society recommends its Secure Messaging Service, accessible from within the Online Service, as safer than email when enquiring about your account¹⁶. It may ask for your Customer Number and specific characters of your Security Answers to identify you, and it states it will never ask for the full answers to any of your Security Details. The Online Service automatically logs you out after a short period of inactivity¹⁶. A request for full security details should be treated as a warning sign: see our guide to scams and fraud.

The society holds a Feefo Gold Trusted Service Award, won in 2022, which is a customer review based award rather than a regulator's rating¹¹. If you have a complaint, raise it with the society first. The society is subject to the Financial Ombudsman Scheme³, so if the society cannot resolve your complaint, or you are unhappy with its response, you can take it to the Financial Ombudsman Service, which is free. Our consumer protection guide explains how the complaints process works step by step.

The society is committed to making its Online Service as accessible as possible to users with disabilities, including users who may be partially sighted or have a physical disability¹⁶. Braille, large print and audio formats of documents are available on request¹⁰, and its mortgage conditions are also available in large print².

How your money is protected

Market Harborough Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under firm reference number 206041¹. Its FCA Register permissions are entering into a regulated mortgage contract as lender, and accepting deposits⁷. It appears on the Prudential Regulation Authority's list of building societies incorporated in the UK⁴.

Because the society is authorised to accept deposits, savings held with it are covered by the Financial Services Compensation Scheme (FSCS), the UK's statutory deposit protection scheme. The level of protection and how the scheme works, including the position for joint accounts and temporary high balances, is explained in our consumer protection guide. You can check the society's status yourself on the FCA Register using its firm reference number, 206041⁷.

If the society and a customer cannot resolve a dispute, the society is subject to the Financial Ombudsman Scheme³, which provides a free, independent route for complaints about its savings and mortgage business. For Scottish mortgages, the society's conditions provide that the courts of Scotland have exclusive jurisdiction over any dispute or claim arising out of or in connection with the agreement².