Covers a range of topics relating to mortgages and the wider housing market.
Covers issues relating to savings accounts and payments.
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The regulation and supervision of firms to ensure their safety and soundness under the remit of the Prudential Regulation Authority.
A new legal aid scheme to support borrowers at risk of repossession (member only content).
Building societies and credit unions are customer-owned mutual organisations. Their culture is focused on their members and communities and this influences their day to day decisions.
A wide range of statistics relating to the UK mortgage and housing markets.
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Retail savings data including net receipts and deposits, ISAs and interest rates.
Operational and financial information about building societies. Includes AGM & financial results and remuneration details.
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Bank Rate cut to 4.75% but pace of rate cuts expected to moderate in wake of Budget
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View our latest press releases and comment here.
The BSA's quarterly magazine covers whats happening in the world of building societies, credit unions and the wider financial services sector.
A quarterly survey that assesses consumer sentiment regarding the UK property market.
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An introduction to treasury management (30th January 2025)
Find factsheets on mortgages, savings and the building society sector.
Track building societies that no longer exists and get a link to its successor's website.
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The UK Savings Week campaign aims to get people engaged in saving.
Toolkits to develop Workplace Savings are available here.
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The Building Societies Association is the voice of the UK's building societies.
Monetary Policy Committee reduce the Bank Rate by 0.25% to 4.75%
Commenting on the MPC’s decision to reduce the Bank Rate by 0.25% to 4.75%, Andrew Gall, Head of Savings and Economics at the Building Societies Association said:
“As we expected the MPC has today cut the Bank Rate to 4.75%. This is likely to give a boost to consumer confidence and lead to an increase in housing market activity.
“However, shaving 0.25% off the Bank Rate will not be a magic wand for those trying to take their first step onto the property ladder. First-time buyers, who are critical for a properly functioning housing market, say that they are unable to afford homeownership. The BSA’s Property Tracker Report shows that raising a deposit and affordability of monthly mortgage payments are the biggest barriers to buying a home, and have been for many months.
“It's a different picture for those who are already mortgage borrowers who will welcome today’s announcement. Whilst those coming to the end of their fixed rate mortgage term still face a significant increase in their mortgage payments¹, the vast majority of existing borrowers are not worried about maintaining their mortgage payments. Just 2% said they are not at all confident they can keep up their repayments in the Property Tracker Report.
“Anyone who is concerned that they may experience financial difficulties in the coming months, should contact their lender as soon as possible, preferably before missing any payments. Lenders have a range of practical, tailored support available to anyone who may be struggling.
“Savers may be a little disappointed at the Bank Rate cut. However, with inflation below 2% (1.7%), most best buy savings rates, even with the latest cut, are likely to remain higher than inflation, meaning most savers will continue to enjoy real returns on their savings.”
Ends
Notes:
¹Payment differentials if remortgaging now compared to original loan
Example 1 – renewing a 2yr fixed rate mortgage @ 75% LTV
This is an increase of 0.42% points equating to an additional £31 per month
Example 2 – renewing a 5yr fixed rate mortgage @ 75% LTV
This is an increase of 2.31% points equating to an additional £156 per month