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by the following authors: 'Hilary McVitty'

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Building societies continue to perform in highly competitive mortgage market

Press release,
Contact:
hilary mcvitty,
Last updated:
16 February 2015

The BSA has today released mortgage lending statistics for the final three months of last year and the whole of 2014.     Gross mortgage lending by building societies dropped slightly between Q3 and Q4 2014, down from £14.2 billion to £13.8 billion. Nearly 90,000 new loans ...

Building societies maintain share of lending in slowing mortgage market

Press release,
Contact:
hilary mcvitty,
Last updated:
21 November 2016

Today the Building Societies Association (BSA) releases mortgage lending and savings figures for all 44 building societies for the third quarter of 2016.  The figures show that lending by building societies continues to grow on a year on year basis, however the rate of growth...

Building societies perform strongly in mortgage and savings markets

Press release,
Contact:
hilary mcvitty,
Last updated:
24 November 2015

Building societies approved over 103,000 mortgages between July and September 2015, data released today by the Building Societies Association shows. These approvals accounted for 27% of the total market – well above societies’ natural market share of 21%.   Societies advan...

Ministry of Defence press release: Building societies pledge support for Armed Forces personnel

Press release,
Contact:
hilary mcvitty,
Last updated:
10 February 2016

A total of 25 building societies have pledged to implement a mortgage policy that allows Armed Forces personnel who are posted overseas to rent out their homes without facing higher mortgage interest rates or a requirement to change their mortgage. This announcement f...

Building societies support older borrowers

Press release,
Contact:
hilary mcvitty,
Last updated:
18 May 2016

Seven months after the BSA published its first interim report on the issues being faced by borrowers in their forties and fifties onwards, well over half of the UK’s building societies will now lend to borrowers up to or over the age of 80. These changes are also starting ...

Building society mortgage approvals rise 10% in 2015

Press release,
Contact:
hilary mcvitty,
Last updated:
17 February 2016

Today the BSA has released mortgage lending and savings statistics for the 2015 full year.  The figures show a healthy increase in gross lending and mortgage approvals on 2014 and continued strong market share despite more intense competition.   The value of mortgage loans ap...

Building society sector commits to review maximum age policies on mortgages

Press release,
Contact:
hilary mcvitty,
Last updated:
12 November 2015

With the life expectancy  of the UK population increasing by five hours a day*, the building society sector has committed to review its maximum age limits for  mortgage borrowers, as one way to better support those needing mortgage finance into and in retirement. This actio...

Cass Business School: Building societies are fit for the future

Press release,
Contact:
hilary mcvitty,
Last updated:
10 September 2015

Building societies outperform banks across a number of financial indicators, according to a new report by Cass Business School, City University London.   An Analysis of the Relative Performance of UK Banks and Building Societies finds that building societies have recovered...

Consumers will continue to save for a rainy day and housing

Press release,
Contact:
hilary mcvitty,
Last updated:
14 November 2016

It was a relief to many, both savers and savings providers alike, that the Monetary Policy Committee decided last week to hold the Bank Base Rate at 0.25%.  Although the Bank has now said it won’t reduce rates again this year, if the outlook worsens this rate could fall again...

Government schemes improve prospects for first-time buyers

Press release,
Contact:
hilary mcvitty,
Last updated:
10 March 2016

Government schemes are generally well-received by those aiming to get onto the housing ladder, the BSA’s March Property Tracker shows, with 45% of aspiring buyers saying that these schemes have made it easier for them to raise a deposit.  A further 28% of people who aspire t...

Housing crisis needs long-term Government strategy and multi-agency action

Press release,
Contact:
hilary mcvitty,
Last updated:
20 May 2015

Opening the BSA Conference in Harrogate today (20 May), Chief Executive, Robin Fieth called on the new Government to deliver a long term strategy to counter the housing crisis.  He also announced two BSA housing programmes: lending on new types of construction and lending into...

Independent data show building societies give savers a better deal

Press release,
Contact:
hilary mcvitty,
Last updated:
20 January 2015

Building societies are consistently paying better rates to savers than their competitors, independent research from SavingsChampion.co.uk reveals. On the day that the FCA has issued its report into the cash savings market, data shows that in relation to variable rate savi...

Independent review of building society governance published

Press release,
Contact:
hilary mcvitty,
Last updated:
21 May 2015

Management and governance at building societies must be every bit as rigorous as that at shareholder-owned banks.  An independent report published today¹ reviews governance in building societies.  It has found that the quality of governance in the sector has improved signific...

Massive financial capability potential for UK’s building societies – New BSA Report

Press release,
Contact:
hilary mcvitty,
Last updated:
17 May 2016

Building societies ‘uniquely placed’ to help young people manage money 59% of societies providing financial education for young people – 95% track impact. Greater focus needed on pensions and credit. Localism ‘trumps’ one-size fits all national approach. Building Society...

Mortgage affordability improves as market rates fall

Press release,
Contact:
hilary mcvitty,
Last updated:
20 June 2015

Keeping up with monthly mortgage repayments is becoming less of a problem for people wanting to buy a home, the BSA’s Property Tracker has revealed.    Just one third (33%) of consumers think that this monthly commitment is a barrier to buying a property – the lowes...