Our FAQs

for borrowers

General mortgage questions

What is an Approved Solicitors Panel?

Our Approved Solicitors Panel is made up of a group of solicitors we've worked with before and trust to act on your behalf. Take a look through the pdf to find a solicitor near to you. 

If you choose to appoint a firm that is not on our panel, we will require our own partner Solicitor to act on our behalf. You will be responsible for our legal fees in addition to your own legal fees. 

What charges might I incur with my Cambridge Mortgage

There may be fees associated with your mortgage from getting it to changing or ending it. We want to make sure you understand the fees that may apply to you, so, we've worked with the Council of Mortgage Lenders and Which? to show these clearly, take a look at the pdf to see all our fees. 

My Solicitor isn't on your panel, can they join it?

Solicitors that are using Lender Exchange can join our panel. They'll need to log in at www.lenderexchange.co.uk and apply to join there. 

Solicitors not on Lender Exchange can call them on 0344 244 3784 to discuss the application process.

Can I view my mortgage account online?

You can view all your accounts with The Cambridge via our website or money app – it’s simple and secure. To get started, simply call us or pop into your nearest branch to request your User ID and we’ll talk you through the rest.

Where do you offer mortgages?

Our mortgages are available on properties located in England and Wales.

What age restrictions are there on mortgages from The Cambridge?

The minimum age required for a residential mortgage is 18 and 21 for a Buy to Let mortgage. There is no maximum age limit.

Can I get an Interest Only mortgage with The Cambridge?

Interest Only repayment options are available across our mortgage range on loans of up to £500,000 with a maximum loan to value of 70%. Interest Only mortgages are subject to criteria and the suitability of proposed repayment methods – talk to our team to find out more.

for savers


How is interest paid on Personal Accounts

Interest on Personal Accounts is paid at the gross rate with no tax deducted.

How is interest paid on Business Accounts

Interest will be paid at the gross rate. The receipt of interest gross by a company will not prevent that interest from being liable to corporation tax. For information regarding tax or how to make a self-assessment tax return, please contact HMRC.

How does the Personal Savings Allowance affect me?

On 6th April 2016, HM Revenue & Customs (HMRC) made changes to the way savers earn interest and pay tax. They introduced a new Personal Savings Allowance. Here you can find answers to the questions you might have about the Personal Savings Allowance.

The introduction of the new Personal Savings Allowance means that from 6th April 2016 most people no longer pay tax on their savings income. Basic rate tax payers have a £1,000 tax-free allowance while higher rate tax payers are able to earn £500 tax free.

From this date, The Cambridge stopped deducting tax from the interest you pay on your savings. If your total taxable income is less than the current £17,000 allowance you will pay no tax at all on your savings income.

If you have previously completed a form to receive interest tax-free (an R85/R105) you will no longer need to do so from April 2016. Interest that relates to periods before April 2016 but paid afterwards will not have tax deducted.

What should I do if I earn savings income over my Personal Saving Allowance?

If you have any savings income over your Personal Savings Allowance you will have to pay some tax on this. HMRC will normally collect the tax by changing your tax code. If you already fill in a self-assessment tax return you should carry on doing this and include any income from savings on your return.

Does the Personal Savings Allowance affect my ISA?

The Personal Savings Allowance does not affect ISAs. Interest from Individual Savings Accounts (ISAs) is paid tax-free so does not count towards your Personal Savings Allowance. 

What happens when savings interest rates increase?

When the interest rate on your savings account increases we will places notices in our branches, on our website and in two newspapers within three working days of the change, or we'll let you know within 30 days of the change by email, letter or another form of personal notice. 

What happens when savings interest rates decrease?

The interest rate for your savings account might decrease for a number of reasons, you might have a fixed term product that is coming to an end, your rate may be variable and therefore can change at any time or it may be linked to changes in the Bank of England Base Rate. 

When the interest rate on your savings account decreases we will tell you about the change, in writing, within 14 days of the change taking place. 

Take a look at our Terms and Conditions for Savers for a more detailed explanation.

If you'd like to speak to one of the team about your savings accounts live chat with us, or call on 0345 601 3344.

Does the Personal Savings Allowance affect children's savings accounts?

Children under the age of 18 get tax-free income. If money given by a parent produces interest of more than £100 a year, the interest will be treated as the income of the parent and count towards the parent's Personal Savings Allowance. If the interest is above the parent's Personal Savings Allowance they will have to pay tax on the interest.

This rule does not apply to money given by others, including grandparents. For more information take a look at www.hmrc.gov.uk/childincome or phone the HMRC helpline on 0300 200 3312

What is the interest on my Savings Account?

You can view the interest on your savings account at any time online once you've registered for our online services.

Alternatively take a look at this pdf to find out the interest rate for your variable savings account where the product is no longer available. 

If you're looking for the interest rate for a savings account that is currently available take a look at our savings products here.

I've lost my passbook or security information, what should I do?

Don't worry, we've a dedicated number for our customers who've lost their passbook or security information - simply call the team on 0800 587 5295.

The team are available Monday to Friday 8.30am - 8.30pm and on Saturday between 9am and 5pm. 

How do I pay into my savings account?

You can simply set your Cambridge savings account up with your bank so you can transfer to your savings as and when you want, the details you’ll need are:  

  • Sort Code: 20-17-55
  • Account Number: 40338346
  • Reference: This is your 10 digit Cambridge Building Society account number. You must quote this as a reference to ensure the payment reaches the Account

You could also call the team on 0345 601 3344 – they’re able to take the payment over the phone if you’d prefer.

Online Services

Just call the team on 0345 601 3344 and we will verify your identity and reset your login details for you.

Secure messaging allows you to send us an instruction, e.g. request a new passbook for savers or reduce the amount you overpay each month for mortgage customers, instead of giving us a call or going to branch.

Security is at the heart of all our online services, including the money app. Each item is tested by independent experts to make sure you, your details and your money are safe.

No banking data is stored on your phone.

There are lots of things you can do to keep safe online;

- make sure that you regularly update the app when new versions become available

- don’t share your login details with anyone

- always logout when you've finished with the money app or your online services

For more hints and tips on staying safe online take a look at our security page


The Cambridge Money App

The money app is available to everyone who uses our online service for their mortgage or savings accounts or has e-Saver accounts.

If you have an iPhone you can download it from the App Store

If you have an Android you can download it from Google Play

Search for ‘Cambridge Building Society’, 'The Cambridge Building Society' or 'The Cambridge Money App' and you’ll see The Cambridge logo. Tap on the app and press get or install.

You’ll need to enter:

  1. Your User ID (the one you use to access your online service in a browser)
  2. Your password
  3. Three characters (from your memorable word)

You’ll then be asked to:

  • Set up a five digit passcode
  • Enable Touch or Face ID (optional and it is only available on iPhone)

You’ll need to register and log in to our online portal before you’re able to use the money app, call us today on 0345 601 3344 to get set up and running.

For our online and branch based savings accounts and our mortgage accounts you can: 

  • Check account balance
  • View Transactions
  • Change Personal Details
  • Send secure messages to The Cambridge
  • View mortgage statements generated by The Cambridge
  • Find your nearest branch
  • Find branch information 
  • Contact us
  • Personalise account names

Online savings accounts are also able to: 

  • Transfer money to external accounts
  • Transfer money to Cambridge accounts

Sort code changes

The UK government is separating private and business banking, you might have heard this referred to as ‘ring fencing’. To ensure our sort code it is not shared with any private banking customers it is changing.


If you would like to read more about the change take a look here.

Our new sort code is: 20-17-55

Any payments you make to The Cambridge will need to include our new sort code – whether you’re paying into your Savings Account or making a payment to your Mortgage Account.

Our new sort code is: 20-17-55.

The account number will remain the same, it is: 40338346

It’s also important to quote your Cambridge account number when making electronic payments to your account – there is a payment reference field for this.

All payments made to The Cambridge will need to have the new sort code in place by 22nd January 2021.

You’ll need to change the sort code for any payments you are making using the following methods:

  • Standing order
  • Faster payment
  • Bank transfer

A payment like your monthly mortgage Direct Debit, which is where we collect the money from you, will not be affected by this – you don’t need to do anything, we’ll change the sort code the payment goes to.

If you’ve made a payment using the old sort code – don’t panic. For a period of time – up until the 22nd January 2021 the payment will be automatically redirected to our new sort code. After this any payments made using our old sort code will be returned to the account they were made from.

At the moment we’re automatically redirecting payments to our new sort code, there is no need to worry the payment will get to your account. However please make sure you change it before the deadline – 22nd January 2021. Our new sort code is: 20-17-55.

Yes, all payments being made into your Cambridge account must have the sort code amended by 22nd January 2021. Our new sort code is: 20-17-55.

Payments you might need to think about are:

Your salary – do you get your salary paid into your savings account? You’ll need to inform your employer of the change.

Payments from The Department for Work and Pensions (DWP) – if you have any payments made to your Cambridge accounts from the DWP you’ll need to inform them of the sort code change. Our new sort code is: 20-17-55.

You can contact the DWP on 0800 731 0469 for their pensions service; and, 0800 469 0310 for Jobseeker’s Allowance, income support, incapacity benefit or employment and support allowance.

Visit the governments DWP page for more information.  

Making payments

It’s important to include your 10 digit Cambridge account number in the payment reference field of any electronic payments made to your account whether that is for your Savings or Mortgage accounts. If this information isn’t quoted correctly, the funds will be returned to the sender.

We are required to provide a reference to customers making electronic payments, this is to allow tracking of the payment, should our customers need to. We are sending this reference to customers via email or text.

Confirmation of Payee is a new tool designed to stop payment fraud. It will allow you to check the name of the person holding the account against the sort code and account number - this will alert you to a number of options:

  • Match – the name and account details match – proceed with making your payment
  • Close match – the name and account details don’t quite match – this could be because of a slight difference in the name, double check the name before making the payment
  • No match – the name and account details do not match, if this happens you may have typed the details incorrectly - or someone may have given you different details to try and steal your money
  • Unavailable – this is where it isn’t possible to check whether the details match or not. This is what you’ll see when making payments into your accounts with The Cambridge.

If you're transferring money from your Savings to your current account (nominated account) or to payees you've set up, you will not see any changes.

However, if you're transferring money into your Savings or Mortgage accounts you might be asked to confirm the payee when doing this. 

Confirmation of Payee - a new tool to protect against fraud, is only available for accounts that have an individual account number and sort code. At The Cambridge we're don't offer banking services, so your savings account or mortgage account doesn't have it's own account number to transfer money in to.

Find out more about paying money into your accounts. 

When setting up a payment to The Cambridge you may see 'Unavailable' - but don't worry, this is because we're not part of the Confirmation of Payee initiative. Just double check you have entered the correct details which are listed below - and then proceed with your payment. 

  • Sort Code: 20-17-55
  • Account Number: 40338346
  • Reference: This is your 10 digit Cambridge Building Society account number. You must quote this as a reference to ensure the payment reaches the Account

Your Cambridge

Member FAQs

What makes me a member of The Cambridge?

You're a member of The Cambridge if you have a Personal Savings or Mortgage account with us.

Members with voting rights are the first named holder on a savings account with more than £100 in, or the first named on a mortgage account with a balance of more than £100.

What does it mean to be a member?

We're a mutual building society, this means that we're owned by our members. You have a say in what we do - your opinion matters to us. 

You can come along and meet the team behind The Cambridge, find out what we're up to and have your say at events like our Annual General Meeting. 

What makes a building society different?

Find out how and why building societies help to support their members.

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