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This email is from The Building Societies Association.
If you cannot read this email properly, please visit:
http://www.bsa.org.uk/publications/newsbite/march_09.htm.March 2009 |
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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 Society Matters, focusing on mutuality, is now available. To request a postal copy and to be added to the distribution list click here or to download a copy from the BSA website click here
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Job market pessimism dents housing optimism
Over half of people now believe that it is a good time to buy property, although uncertainty surrounding their personal circumstances and the perceived difficulty of obtaining a mortgage may prevent some of those people realising their property purchase dreams according to the fourth BSA Property Tracker survey
The survey found that 54% of people believe that to some extent now is a good time to buy property in the UK. This proportion has grown consistently since June last year when just 27% believed it was a good time to buy property, and is a further improvement on the 46% who thought so in the last Property Tracker in December.
The biggest barriers to home purchase remained the same as in December – lack of job security, access to a large enough mortgage and raising a deposit.
The survey has also shown that people expect prices to fall by a further 6% over the next year, but just under a third viewed falling prices as a barrier to buying at the moment.
Read the full article
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Record building society savings in February
Net receipts into building societies were £1,595 million in February 2009, representing the highest February net receipt on record and an increase of 18% over February 2008.
Commenting on the figure, Brian Morris, Head of Savings Policy at the BSA said:
“The record February net receipt of £1.6 billion shows that building societies’ attractive savings products are helping them to compete for deposits. Despite the Bank Rate being so low people are still keen to save, probably in response to the uncertain economic outlook and reduced job security.”
Read the full press release
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BSA Events
Annual Conference – 20-21 May 2009
Join us in Harrogate for two days of dialogue, debate and some of the best industry speakers. We’ve lined up an impressive list of industry commentators and financial industry leaders to provide you with the best advice possible on coping with the current and future challenges
Register now at www.bsaconference.org
Introduction to Building Societies – 28 April 2009
This seminar brings together a team of experts to offer a series of papers that will challenge the intellect and provide a memorable introduction to the industry.
Find out more.
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And finally ...
If Newsbite has been forwarded to you by a colleague and you would like to get your own copy direct, or if you would like to unsubscribe just e-mail the Media Centre.
For feedback, opinions and information, contact Newsbite’s editor rachel.wylie@bsa.org.uk.
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FSA Mortgage Sector Conference - 12 May 2009
The Financial Services Authority (FSA) is currently reviewing the mortgage market. This major FSA conference will be the first step in inviting the industry to engage in the review and for the FSA to outline its current thinking on the areas where we think change is necessary.
This conference will appeal to those interested in the reform of UK mortgage regulation including: Senior management and individuals within lenders, intermediaries, networks and administrators who have responsibility for meeting our regulatory requirements; trade associations; consumer bodies; international regulators from major financial centres; ratings agencies; parliamentarians and officials with an interest in financial regulation; and compliance consultants.
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