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Released today, lending and savings figures from the BSA show that building societies approved 29% of all new mortgages in Q3 2017, and savers deposited £1.3 billion in building society accounts.
Speaking at the BSA Annual Lunch, BSA Chairman, Jonathan Westhoff, gave an update on sector action for older borrowers on the second anniversary of the first BSA report
Almost 60,000¹ mortgages were written in the first 6 months of 2017 which will mature when the borrower is 65 or older, a 45% increase on the same time in 2015...
The Building Societies Association is proud to have signed up to the Women in Finance Charter.
The Building Societies Association (BSA); the Tax Incentivised Savings Association (TISA) and UK Finance committed that for 2017, a minimum of 80% of cash ISA transfers would be completed within seven working days...
Facts, figures and comment relating to the 0.25% Bank Rate increase today, 2 November 2017.
Building societies have over 23 million members (customers) and in the first half of 2017 they approved around 225,000 new mortgages, gross lending was just over £31 billion. Over the same 6 months, savers were better off by £380m in total iwith a building society, compared to the big banks.
Released today, the latest BSA Property Tracker survey results reveal that:
- Households continue to worry about the rising cost of living and their ability to save
- Consumer confidence in home purchasing remains subdued
The BSA welcomes the publication of the FCA’s Ageing Population and Financial Services paper today. It represents an important first step by the regulator in encouraging the lending community to respond to the changing demographics by broadening the range of products available to those in or nearing retirement.
Commenting Paul Broadhead, Head of Mortgage Policy at the BSA said:
“The increase in newly built homes being sold on a leasehold basis is rarely to the benefit of homebuyers, so the Government’s focus on protecting consumers in this area is encouraging...
Developments in the wider economy are making it more challenging for homebuyers and savers. Building societies continue to support both groups, and maintained a high market share of new mortgage lending and savings in the second quarter of 2017.
The Building Societies Association (BSA); the Tax Incentivised Savings Association (TISA) and UK Finance (UKF) committed that for 2017, a minimum of 80% of cash ISA transfers would be completed within seven working days.
Halfway through 2017, building societies continue to outperform banks in the return that they offer to savers
The Building Societies Association commissioned YouGov in July to conduct independent research into levels of customer service at building societies, banks and other providers.
Survey participants with a mortgage or savings account provider, were asked to state whether they agreed or disagreed with seven customer service statements about their providers. The results show that building societies continue to have a significant lead over other providers when it comes to customer service, outperforming their competitors on all seven measures.