Parliamentary briefings

Parliamentary briefings produced by the BSA

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A strong and simple framework for building societies & credit unions

Building societies specialise in savings and mortgages, while credit unions focus on savings and personal loans. Both are UK domestic with a relatively simple business model. The regulatory framework and legislation should recognise this simplicity.

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Mortgages and Covid-19

In 2016 Support for Mortgage Interest changed. It changed from being a benefit to a loan and the waiting time to access it increased from 13 weeks to 39 weeks.

In light of Covid-19 and the pressure on people’s incomes, we are calling for the waiting time to be reduced. Making this change now will help create an environment by providing a longer-term safety for homeowners. This will help people to able to stay in their homes, while dealing with financial pressures.

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Consumers' Access to Financial Services

There have been a large number of consultations covering the area of consumer access recently, all from different angles and bodies.  There appears to be no overarching view of the issues and ultimately there is a risk to consumers that different recommendations may compete and even conflict with each other.

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E-petition 186565 relating to eligibility for mortgages

The debate on taking previous rent payments into account when assessing someone’s eligibility for a mortgage has received significant interest following an e-petition with over 147,000 signatures.

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Making Tax Digital

This briefing is provided ahead of the remaining stages of the Finance (No. 2) Bill to inform the debate. These issues apply equally to banks and building societies.

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Financial Guidance and Claims Bill (HL) Committee Briefing

We have long supported calls for a Single Financial Guidance Body (SFGB) and welcome the proposal to move regulation for Claims Management Companies to the FCA. We do however have some concerns about the delegation of advice delivery, in particular ensuring the new SFGB uses these powers to avoid duplication.

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Queen's Speech 2017

This page contains information about the June 2017 Queen's Speech and its impact on the building society sector.

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Letter to Party Leaders - GE 2017

BSA letter to the Party Leaders ahead of the General Election

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Creating a New Mutual Bank

In light of the challenges RBS have faced in spinning off Williams & Glyn as a separate shareholder owned bank or finding a willing corporate buyer for the business, other alternatives should be explored to deliver the same outcome. 

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Building societies supporing the Armed Forces Covenant

This briefing outlines steps being taken by the building societies sector to support service personnel through the Armed Forces Covenant.

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Savings (Government Constributions) Bill

The BSA supports the intentions behind both these schemes. Both are intended to encourage
people to save and this is important in engendering financial resilience. However, we do have

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Bank of England Bill: Strengthening Accountability

This briefing outlines the views of the Building Societies Association on the main areas under discussion as part of the Bill.

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