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News in digestible form
Welcome to the March edition of our e-newsletter, BSA Newsbite. A monthly online update, Newsbite gives you the latest news, views and stats from the building society sector.
The Spring edition of our quarterly magazine, Society Matters has recently been published and focusses on Treating Customers Fairly. If you would like to be added to the mailing list please email the Media Centre
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Budget round-up
Chancellor Darling's first Budget covered a number of areas of interest to building societies.
On the housing and mortgage side, the BSA welcomed the decision to exempt some shared ownership properties from stamp duty, and to extend the shared ownership schemes to allow buyers to purchase as little as 50% of their property. However, this will do little to help the majority of aspirant first time buyers who are ineligible for the schemes.
The Chancellor also announced plans to stimulate the development of long term fixed rate mortgages. Again while welcoming the Chancellor's interest in this area, the BSA believes that the real challenge is stimulating consumer demand for such products since those lenders that have offered long term fixed rate mortgages have reported low levels of take-up.
Plans were also announced to roll out the Saving Gateway nationally.
Read the full article
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Financial services trade bodies launch A Guide to Personal Finance
The BSA, along with seven other financial services trade associations, known as the Financial Fringe, has launched a pack for MPs to use with their constituents.
A Guide to Personal Finance covers 25 subjects from mortgage arrears and debt, to the Child Trust Fund and unclaimed assets. The aim of the pack is to provide helpful information to constituents who visit their MP or local councillor looking for guidance on financial services related issues.
The pack has the backing of the All Party Group on Debt and Personal Finance and the All Party Group on Insurance and Financial Services.
A Guide to Personal Finance can be viewed and downloaded on the BSA website here
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Updated Consumer Leaflets from the BSA
The BSA has updated and re-issued two of its consumer leaflets: Individual Savings Accounts and Building Societies and Taxation of Building Society Interest.
Individual Savings Accounts and Building Societies
This leaflet explains the main features of individual savings accounts including details of the changes to the ISA regime that come in in April 2008. It focuses on those features most relevant to savings in building societies.
To download a copy or to make an order click here
Taxation of Building Society Interest
This leaflet explains the tax treatment of the interest which building societies pay to their investors. It is based on the tax rates and allowances etc for the tax years 2007/08 and 2008/09.
To download a copy or to make an order click here
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Society News
Britannia Building Society has been named as number two in the Sunday Times' 20 Best Big Companies to Work For. The list is based on the feedback from almost 1,500 Britannia employees who were randomly selected to complete the Sunday Times' survey. It is their feedback that confirmed Britannia's place. Group chief executive, Neville Richardson, also received a special award for the Best Leader.
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BSA welcomes new Associates
Mutual Vision Technologies, NIIT Technologies, Wincor Nixdorf UK Limited and The Wriglesworth Consultancy have all joined the Association as Associates.
Mutual Vision Technologies supplies specialist software solutions to the World’s financial services community.
To find out more about them, check out their website... www.mv-tech.co.uk
NIIT Technologies is a global IT solutions organisation servicing customers in North America, Europe, Asia and Australia.
www.niit-tech.com
Wincor Nixdorf UK Limited produce and supply advanced IT systems tailored to the optimized design of processes at bank branches and retail outlets around the world.
http://www.wincor-nixdorf.com
The Wriglesworth Consultancy is one of London’s most dynamic public relations firms providing top-level financial, corporate, consumer and business-to-business PR consultancy to a range of quoted and unquoted companies, including many prestigious names.
www.wriglesworth.com
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BSA Annual Conference - 7 & 8 May 2008, Manchester Central - Latest News
It has just been announced that this year’s guest speaker for the Deloitte Business Breakfast, which kicks off the second day of the conference, is Jonathan Aitken.
Jonathan’s colourful career has covered journalism, merchant banking, politics and prison. His past occupations and activities include: Seven years as a Fleet Street journalist, including five tours of duty as a war correspondent in Vietnam, Africa and The Middle East. 10 years as Chairman of a City of London Merchant Bank. 23 years as a Member of Parliament. Four years as a Government Minister including the Cabinet post of Chief Secretary to The Treasury. 18 months imprisonment in HMP Belmarsh and Stanford Hill. Two years reading Theology at Oxford University. He is the author of 12 books including an award winning biography of President Richard Nixon and he is currently Chairing the Centre for Social Justice’s Prison Reform Study Group.
With a background like this, the event promises to be interesting, possibly controversial and a must for those suffering a little following the conference dinner the night before.
Over 500 delegates have already signed up to attend the conference so far. To secure your place, or for more details register online at www.bsaconference.org
And finally ...
If Newsbite has been forwarded to you by a colleague and you would like to receive your own copy, or would like to unsubscribe just e-mail the Media Centre.
For feedback, opinions and information, contact Newsbite’s editor Rachel Le Brocq.
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Advertisement
International Union for Housing Finance 27th World Congress, South Africa, 2008
The IUHF World Congress will take place from Monday 29 September 2008 in Sun City, South Africa.
Agenda highlights include –
• The impact of housing on economies; world markets and populations - in the developed and developing worlds
• Housing finance and sustainable development
• Government policies for sustainable mixed use and mixed tenure housing
• The sub-prime market in the USA
For more information and details of how to register visit - www.iuhf2008.com/
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