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Lost a savings account?

Factsheet,
Contact:
simon rex,
Last updated:
23 April 2015

Through the BSA website you can trace savings that you have lost touch with. It is also possible to trace another person's lost account if you are legally empowered to do so. This web-based tracing service is FREE and operates through: mylostaccount.org.uk Mylostacco...

Pressures in the economy challenge homebuyers and savers

Press release,
Contact:
hilary mcvitty,
Last updated:
14 August 2017

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. Mortgage lending Q2  Buil...

Child Trust Funds

Factsheet,
Contact:
simon rex,
Last updated:
06 April 2018

HMRC stopped issuing new Child Trust Fund vouchers on 1 January 2011. The Child Trust Fund was the centrepiece of the Labour Government's plans to encourage asset-based welfare. According to the Labour Government , the Child Trust Fund would help engender a savings habit a...

Junior Individual Savings Accounts (JISAs)

Factsheet,
Contact:
simon rex,
Last updated:
06 April 2018

Junior ISAs were introduced in November 2011 as a replacement to Child Trust Funds. Junior ISAs have the following key features: All UK resident children under the age of 18 who do not have a CTF are eligible for Junior ISAs. All returns are be tax-free.  Both cash and...

ISAs - Individual Savings Accounts, including Flexible ISAs

Factsheet,
Contact:
simon rex,
Last updated:
06 April 2018

Cash ISAs are the main cash-based tax-free savings product offered by building societies and they are a particular strength of building societies, with the sector regularly having over 30% of the market. An Individual Savings Account (ISA) is not a product in its right but...

BSA Autumn Statement submission

Industry response,
Contact:
kate creagh,
Last updated:
09 November 2016

Dear Chancellor   Autumn Statement 2016 Given the significant changes, challenges and opportunities facing the UK as a result of the EU Referendum and what will flow from it, we have set out some thoughts and ideas which we hope will be of value as you develop your Autu...

BSA Response to FSA Consultation on FSCS Funding Review (CP 12-16)

Industry response,
Contact:
brian morris,
Last updated:
24 September 2012

Introduction  The Building Societies Association (BSA) welcomes the opportunity to respond to the FSA’s proposals for reforming the FSCS funding model, as set out in Consultation Paper 12/16. The BSA represents mutual lenders and deposit takers in the UK including a...

Our brief response to joint consultation on FSCS management expenses levy limit 2016/ 17

Industry response,
Contact:
andrea jeffries,
Last updated:
12 February 2016

We welcome the slight reduction in the MELL budget but argue for more detail on "strategic change" expenditure. Click here for the response.

Help to Buy ISA - draft implemetation documents

Industry response,
Contact:
andrea jeffries,
Last updated:
01 July 2015

We are pleased to offer comment on the draft target operating process and operational principles for Help to Buy ISA circulated on 22 June 2015.  Help to Buy ISA should prove a welcome tool to help young home buyers take their first step on the housing ladder.  The product sho...

Industry response to HMRC draft CTF to JISA draft guidance

Industry response,
Contact:
andrea jeffries,
Last updated:
20 February 2015

We welcome the flexibility that the ability to transfer from CTFs to JISAs brings. To align with standard practice, an industry working group has produced CTF to JISA transfer guidelines and model forms which are also included in this response. Click below to read ...

Our response to HM Treasury's consultation 'Opening up UK payments'

Industry response,
Contact:
andrew hopkins,
Last updated:
25 June 2013

Introduction The Building Societies Association (BSA) represents mutual lenders and deposit takers in the UK including all 46 UK building societies.  Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold res...

Our response to PSR CP14/1 A new regulatory framework for payment systems in the UK

Industry response,
Contact:
andrew hopkins,
Last updated:
12 January 2015

The BSA response to the Payment Systems Regulator consultation paper 14/1 A new regulatory framework for payment systems in the UK is available below - BSA response to PSR CP14/1

Our response to the FCA consultation "Payment Systems Regulation - Call for inputs"

Industry response,
Contact:
andrew hopkins,
Last updated:
15 April 2014

The Building Societies Association (BSA) represents mutual lenders and deposit takers in the UK including all 45 UK building societies.  Building societies have total assets of nearly £330 billion and, together with their subsidiaries, hold residential mortgages of over £2...

Our response to the HMRC consultation on the deduction of income tax from savings income

Industry response,
Contact:
andrea jeffries,
Last updated:
18 September 2015

Executive summary We strongly believe that all non-TDSI interest – to individuals and to non-individuals - should be paid gross, without deduction of income tax at source.  It is the most straightforward and least costly solution for savers and financial institutions. ...

Savers get a better deal from building societies

Press release,
Contact:
amy harland,
Last updated:
20 March 2017

New data shows that building societies give the UK’s hard pressed savers a better deal than other deposit takers do[1]. The Building Societies Association (BSA) has collated this new data using a similar methodology to the effective rates data compiled and published by the...