Statement of Deduction of Tax

This will show you how much interest you have earned on your account during a specific tax year. These can be issued to you on written request and can be used when claiming any tax back from HMRC.

Standing Order

A standing order is an automated payment that you can set up from your current account. It will send a regular payment (normally monthly, quarterly or yearly) to the person or company you wish to pay. In the context of savings accounts, some will let you set up a regular standing order to your savings […]


When a customer moves to a new mortgage with the same lender, e.g. their fixed rate period ends and they move to a discount rate mortgage.

Standard Variable Rate (SVR)

An SVR mortgage or a scheme that is linked to the Society’s SVR, means that your payments can go up or down according to changes in interest rates. The Society’s SVR may also be the rate you will be charged after your initial mortgage deal period ends. This could be higher or lower than your […]

Stamp duty

Stamp duty land tax (SDLT) is payable when you buy a property for more than £125,000 (or £40,000 if it’s a buy-to-let property or second home).

Shared ownership

You buy a share of a property (usually between 25% and 75%) and pay rent on the remaining share, which is owned by the local housing association.

Service charge

If you are purchasing a Leasehold property, you are likely to be responsible for management and service charges. This information should be available from the selling agent or the vendor.