UK Building Societies

Welcome to

This website has been established as a consumer guide to the UK's remaining mutual building societies. For each of the remaining building societies you can find out about their history, their financial results, branches and of course the products they offer like savings accounts and mortgages. Many also offer general insurance products like home insurance, 50 Plus Life Insurance, travel, car and life insurance although these are generally offered on behalf of 3rd party suppliers. You can also keep up to date with the latest key news from the sector. Unlike banks who are owned by shareholders (and in some cases the UK government) building societies are owned by their members who are typically mortgage holders or savers with £100+ in a qualifying account. The majority of the building societies offer their products nationally but a few still retain a local focus by only offering products to those living in the locality. Where this is the case you can find the details on the relevant page.
The Mutual Sector in the UK holds approximately 22% of savers money and for Tax Free Cash ISA's this figure increases to almost 35%. The sector also provides funding for approximately 16% of mortgages and in 2010 approved 113,470 mortgages.

Don't forget this years Tax Free ISA allowance has increased to £11,280.

Online Offers November 2012.

Mutual Offers - If you are looking to buy from a mutual organisation rather than a bank or insurance company with shareholders below are some online offers that are available.
Get a car quote today from the UK's largest friendly society
Latest Building Society News.
December 2012 - The Boards of Directors of Nottingham Building Society (The Nottingham) and Shepshed Building Society (The Shepshed) have agreed in principle that the two societies should merge. Subject to approval by the members of The Shepshed and confirmation by the Financial Services Authority, the merger is expected to be effective from 1 July 2013.
October 2012 - Century is in talks to merge with Scottish.
September 2012 - Retail savings balances at mutuals rose by £1,247 million in July 2012, compared to an increase of £575 million in the same month last year. After interest credited is removed there was a net receipt of £1,058 million in July. 
July 2012 - Retail savings balances at mutuals increased by £240 million in May, compared to a net withdrawal of £419 million in the same month last year. After interest credited is removed there was a net withdrawal of £1 million in May
May 2012 - Figures from the Nationwide show that the price of a typical UK house fell by 0.2% in April 2012.  Prices remain 0.9% lower than one year ago with the price of a typical home in the UK now £164,134.
March 2012 - Latest figures show that mutual saw a 32% rise in gross mortgage lending in January, £1.9 billion from £1.4 billion in January 2011. Savings balances fell by £1.1 billion in January 2012, compared to a decrease of only £0.4 billion in January 2011.
January 2012 - In the first 11 months of 2011, savings balances held with mutuals have increased by £3.7 billion, compared to a decrease in balances of £1.3 billion in the same period in 2010.
December 2011 - In October gross lending by building societies and other mutuals reached £2.3 billion, its highest level for any month since the BSA started reporting on the current basis (in January 2010), and 20% higher than in the same month last year. Savings balances held with building societies and other mutuals grew by £0.4 billion in October, compared to an outflow of £1.1 billion in October last year.
October 2011 (07.10.2011) - Moody's Investors Service has today downgraded the senior debt and deposit ratings of 12 UK financial institutions and confirmed the ratings of 1 institution. This concludes its review of systemic support assumptions from the UK government for these institutions initiated on 24 May 2011. Building Societies downgraded include Nationwide Building Society (to A2 from Aa3), Newcastle, Norwich & Peterborough, Nottingham, Principality, Skipton, West Bromwich and Yorkshire Building Society.
August 2011 - Gross lending in the first six months of the year by mutuals totalled £10.2 billion, compared to £8.5 billion in the same period last year – a 20% increase. 
June 2011 - Gross lending by mutuals totalled £1.8 billion in May 2011, up 20% compared to the £1.5 billion in May 2010. Mortgage approvals by mutuals, also £1.8 billion, were up by 15% compared to the £1.6 billion approved in May last year.
June 2011 - Figures released show that savings balances held with mutuals increased by £1.5 billion in April 2011, compared to an increase of £0.9 billion in April 2010. After interest credited is excluded, mutuals had a net receipt of £1.0 billion in April this year. Mutuals gross lending amounted to £1,622 million in April 2011 compared to £1,399 million in April 2010.
20th April 2011 - The Boards of Yorkshire Building Society and Norwich & Peterborough Building Society (N&P) announce today that they have agreed the terms of a proposed merger, creating clear and compelling benefits for members of both societies. A Special General Meeting will be held for members of Norwich & Peterborough Building Society members in August 2011 at which N&P members’ approval to the proposed merger will be sought. In July 2011. eligible members will receive a merger booklet setting out details of the merger proposal.
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