Marsden Building Society Reviews 15

Looking to investing with MBS, please read this beforehand.

I began online completing giving my personal details, NI number, email, DOB, to MBS and got more than 1/2 way through the process then the page paused for a long period of time with no explanation.

I researched around and found out why, they had removed their higher fixed rate bonds to a much lower rate, very cheeky.

They had all morning to do the change over.

I emailed them stating that they should have a time log for when I started and I should have had the higher investment but MBS have not replied to my email [MBS said wait 3 days for a reply] to date which is why I rated them as 1 star.

IF trustpilot had a zero rating this would have been better for them.

I'm happy to say that Marsden processed my ISA transfer out request relatively quickly, although they did close my account and take nearly 2 working days to pay the balance to my new bank.

Unfortunately, the reason I chose to transfer out was because shortly after transferring in, they sent me a misleading letter suggesting they were reducing the interest rate by 0.2% when in fact they were reducing it by 2.15%, almost halving it. It took me over two months to notice this (and what a great Xmas present it was :) So congratulations, Marsden, you tricked me into an account with a terrible interest rate. But I won't be banking with you again.

If i could score Marsden zero i would... they unfairly charged me an extra months higher interest when i changed my mortagage package. Very disappointing to say the least.

Long delay in processing a Cash ISA transfer resulting in a massive interest rate reduction.

Incredible experinece, feel very comfortable here. Nicola, Beth, and Jordan are great

It’s amazing

Tried to open an account to transfer in a cash ISA. Online form is clunky and slow so entering details proves tricky because site does not scroll very fast. Having overcome this hitch everything started to go haywire with login and activation. Despite following all procedures as requested, the activation process would not complete. I then had a patronising email from savings customer services telling me I entered the incorrect info. I went through it all again, received more activation codes, and then yet again it failed each time.
I called customer services. Second time of calling I was advised I had entered the activation code incorrectly. Knowing this was not the case, I thought I would give it another go anyway. Three times, three different activation codes, three times double checked by me and my wife, three failures.
They will say it is my incorrect code entry because their IT system says so. I say their computer system is old, clunky and prone to error.
My money is now invested elsewhere. So beware - everything may go well for you, but when it doesn't, don't be surprised if you are told it is you who is at fault.

Called them today about my ISA transfer in. They asked my old ISA company to send them a cheque. I was told by Adam this morning that they accept electronic transfers so not sure why they did that. Adam was VERY unhelpful and out me on hold on EVERY question I asked. COME ON MARSDEN TRAIN YOUR STAFF!
Terrible service and I have just joined you! NOT IMPRESSED !

These people are kind and considerate: their website is a bit shaky but it feels like an old school bank with a personal service in Lancaster with the best people working for them. So refreshing not to talk to someone in a foreign land and they also have a sense of humor! if its a personal touch you want you have definitely come to the right place.Big thanks to Alissa (sp?) for being so clear and entertaining my mountain of questions. A big help not only in sorting out my mortgage but helped me to understand how it would impact me. Congratulations to a winning team! x

The worst. Money grabbing, unreliable. They evaluated our property as the same as what we bought it for. Baring in mind, we added new windows, flooring, carpets, fitted wardrobes and repainted.

They charged us £300 fee and then another £300 for an in personal valuation for it to valued at the same as what they said originally. This company is a joke. It has caused us so much stress and wasted so much of our time.

Stay away from them.

Would give 0 stars if I could. The process of applying to remortgage an existing property with them was disastrous from start to finish (or qould have been, had we ever got to the finish point).
They requested various documentation at random intervals over a period of months, then told me my bank statements and payslips (submitted as requested at the start of the process) were not up to date and I had to submit more. They were not up to date due to Marsden requesting more documents, rather than requesting everything at the start. In the end, i had submitted over 100 pieces of documentation, spanning a 3 year period - some of this duplicated at their request.
I felt like I was being interrogated for fraud despite having good credit, secure full-time employment, already owning the property, and asking for a sum of less than £100,000. After almost 4 months, I took out a cheaper product with an alternative provider.

I found out for years this organisation had allowed a member of my family to pay in/withdraw money from a bank account in my name, despite my having no knowledge or access to funds. This occured by a teller accidentally giving me bank statements.
The account was a so called 'trust account'.
Organisation carried out no diligence related to updating security and personal information. Any excuse they made was a historical, '...well when the account was opened, it was not necessary...'
I can only say be very careful!
Various correspondence was late, related to FCA guidelines.
To repeat be careful.

Terrible company. They gave us an AIP for an expat mortgage, told us it was no problem from the amount we wanted to borrow, back in July 2020. Then they had us jumping through hoops going back and forth asking us to provide the same information over and over again, to then refuse us the mortgage in October 2020 with no real reason. Even though we were putting £35000 deposit down on a £160000 house where the monthly repayments were around £580pm, which is less than the house we are renting at the moment, with our earnings being over £5000pm after tax. It seems to us nobody at Marsden knows what they are doing with all the back and forth communications, where we could obviously afford the repayments. If you get offered a mortgage with this company, seriously think twice and go with somebody else. They mess you around and let you down at the last minute. DO NOT USE MARSDEN BUILDING SOCIETY. Thats the best advice i can give you.

I sent Marsden Building Society important documentation proving my identity/address. Despite dealing with part of my request,it failed to deal with the remaining issue and did not return the important documents I had enclosed until months after,and only then after me making a number of requests. When I phoned them initially chasing these documents,they did not appear to know the whereabouts of the documents (which I found desperately worrying),but promised me a call back to confirm that they had found them.Weeks passed without a call back,and when I phoned again,they did not appear to be aware of either my phone call or my missing documents! Despite corresponding in the end with Mr Pheasey himself (the Chief Executive) I was left feeling that they really couldn't see the situation from my side,couldn't care less that I had become worried stiff about possible identity fraud (using these documents),weren't really concerned that keeping these documents had delayed me by several months in making other important applications for which I required them,and weren't even bothered that I had had to spend on phone call after phone call chasing them. Beware dealings with this society. Apart from the person who finally located my documents,I found the Marsden totally unprofessional.