Scottish Building Society opens £500,000 Aberdeen branch



Scottish Building Society has opened a new branch in Aberdeen to support existing customers and drive new business in the north east.

The world’s oldest building society completed the refit of a three-storey office block on the corner of Union Street and Holburn Street, with doors scheduled to open today.

Initially, it will have a staff of four, led by business relationship manager Alan Chapman and business development manager Douglas Sharpe.

Chapman, from Banchory, has worked in financial services for 30 years.

He said: “It seems counter-intuitive to be opening offices at a time when the world seems to be going online, however, given we have thousands of members in the north east we want to ensure they get the best of both worlds.

“Our traditional approach to how we treat our new and existing members is one we take great pride in and this, combined with digital capability, will continue to keep the Society relevant.”

Sharpe, who has more than 30 years in financial services, said the society acknowledged the different challenges faced in the north east, particularly in the oil industry.

“We are well placed to assist all types of borrowers with our flexible, personal approach to underwriting, focusing on helping borrowers buy/build their main residence.

“We are currently seeing a strong demand for self-build mortgages particularly across the north east, one of only a few lenders in this segment.

“Our commitment to first-time buyers remains, including the provision of guarantor mortgages to help them on the property ladder or for students as an alternative to renting.”

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In March, Scottish Building Society announced a record £74m increase in mortgage lending and a record £58m growth in savings balances.

In a year the society described as being one of “extreme conditions,” profit before tax increased by 34% to £840,000.

Chief executive Paul Denton started his career with the Royal Bank of Scotland in Forfar before being appointed to regional manager in Aberdeen.

He said: “I went to school in Brechin and have fond memories of working in Aberdeen, so this is a homecoming.

“The north east has its own unique identity and we prefer to focus on customers individual circumstances rather than that the automated one-size-fits all approach of most of the larger lenders.”

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