BSA Responds to Housing Green Paper

The importance of ensuring that future housebuilding takes place where the need is greatest and affordability problems the worst, is the key message to emerge from BSA's response to the Government's housing green paper.

Cautiously welcoming plans for an increase in housebuilding, the BSA believes that it is also important that future building reflects local needs and demands, and that the types of homes that are built are those that local people want to buy.

The response also gives a cautious welcome to the concept of eco towns. Although it is important that the environmental impact of housing is reduced, the economic sustainability of these developments is as important as the environmental sustainability. Lenders will be particularly anxious to ensure that they can lend against ‘green’ properties and that they will have a future market and value.

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BSA Annual Lecture 2007

Can principles-based regulation ever be achieved?

This was a question posed by Andrew Hilton from the Centre for the Study of Financial Innovation (CSFI) at the BSA Annual Lecture on 18 October. In practice, he suggested, there is little difference between principles and rules-based systems. Speaking frankly, Hilton said “I don’t think we are really going to get genuine principles-based regulation until the last lawyer is strangled with the guts of the last compliance officer.”

“All regulation is bad”

Too much regulation came top of the CSFI’s annual ‘Top 10 Banking Banana Skins’ surveys in 2005 and 2006, and whilst Hilton acknowledged regulation is “frequently inevitable”, he went on to say “in and of itself, it [regulation] is a bad thing – for at least five good reasons that the FSA must recognise…it is not a free good… regulation is a barrier to entry… regulation favours the big over the small… regulation also inhibits innovation… regulation can hurt the consumer.”

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Building Societies Dominate Moneyfacts’ Most Consistent Savings Reports

The newly launched Moneyfacts most consistent savings reports show building societies lead the way in offering high savings rates over the long term. The quarterly reports feature products and providers offering the best value over the last 18 and 36 months, with building societies currently accounting for over 70% of the accounts listed.

Commenting on the reports, Adrian Coles, Director-General of the BSA said

“What customers want from their savings is a good rate of interest that doesn’t disappear a few months later. It’s easy to launch a product with a headline-grabbing rate, but how long will it last? Building societies realise that their members want more than this and offer some of the most competitive savings products around, as the Moneyfacts reports show.”

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2007 Party Conference Roundup

Although the media interest may have been about the likelihood of a general election, delegates to all three party conferences found themselves with a wide range of housing topics to discuss.

The Prime Minister led the way at the Labour event. In his speech to the faithful he extolled the Government's record in building not just more new homes, but ensuring that they were built in an environmentally friendly way.

However, it was housing minister Yvette Cooper who toured the conference fringe imploring delegates to ensure that they are able to overcome local pressure to prevent new housing taking place. She said that new housing is desperately needed, and if new homes are not built now, it will be future generations that pay the price. She also defended the Government's record on the delivery of new housing, claiming that housebuilding is currently at its highest level since 1990.

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Building Societies Yearbook 2007-08

The latest edition of the Building Societies Yearbook, the official handbook of the BSA, is now available.

With all the latest facts and figures, the newly updated and redesigned publication is packed with:

•  Features from experts on subjects including unclaimed assets, fees and charges and customer service
•  Listings of all UK building societies, including key contacts within each building society and a summary financial statement
•  Statistical data for each society (assets, shares, borrowings, investing and borrowing members, ATMs and branches)
•  Details of mergers, transfers and changes of status within the sector

For details of how to purchase a copy of the Yearbook click here

BSA welcomes new Associate

AXA Sun Life, a financial protection and wealth management firm has joined the BSA as an Associate.

To find out more about AXA Sun Life, check out their website...

www.axa.co.uk

BSA Annual Lunch

Sponsored by Legal & General

If you haven't already done so, it's not too late to purchase tickets for this year's lunch, which will be held at the London Marriott Grosvenor Square hotel. Join over 170 industry colleagues for informal networking, a superb meal, and to hear the views of our guest speaker: Kitty Ussher MP, Economic Secretary to the Treasury.

Tickets cost £75.00 + VAT for BSA members and associates, and £125.00 + VAT for non-member organisations. For more information, follow the link below -

BSA Annual Lunch

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CML Annual Conference 2007 - 4 December 2007

Get into the zone at Going for Gold, the CML Annual Conference, Tuesday 4 December, London.  Delegates can personalise their agenda from an extensive menu.  The day includes plenary speakers including GMAC’s ex-chairman Stephen Knight and Clive Briault, Managing Director of FSA; topical seminars and interactive roundtable discussions on themes such as AVMs, Arrears and Possession, MPPI, what keeps the small lender awake at night, intermediary distribution, Retail Distribution Review and many more.  Plus an exhibition of over 20 industry suppliers and superb networking opportunities via one-to-one meetings.

The fee is held from 2006, with entry price at £399 for larger lenders and £299 for smaller firms, plus discounts on further delegate places.  The building society sector is under-represented at this important event, but your views and opinions are sought for the many roundtable discussions and panel sessions.  Visit www.cml-conference.com for full details.