BUILDING SOCIETIES G-K FINDER

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Where mortgages may come from a bank just as easily as a building society, there is some confusion as to the differences between these institutions.

 

SUMMARY OF DIFFERENCES BETWEEN BANKS and BUILDING SOCIETIES

 

Banks are normally companies listed on the stock market and are therefore owned by, and run for, their shareholders.

 

As a result of not having to pay dividends to shareholders, building societies claim that they have historically offered higher rates of interest to savers and cheaper mortgages.

 

Building societies were set up as mutual institutions, which means that those with accounts become members and have certain rights to vote on issues affecting the society. Each member has one vote regardless of the amount they have saved or borrowed.

 

Traditionally they would only lend within their catchment area, but local societies have become more flexible to appeal to those who wish to save or borrow from them.

 

When it comes to choosing a building society there is no need to just look at those in your area, many will lend or accept deposits from those outside and also offer such services as postal, telephone and internet accounts.

 

 

The following is a selection of United Kingdom Building Society websites to assist borrowers: 

 

 

HALIFAX - A wide range of mortgages which could suit your needs. Claim to be the UKs No. 1 mortgage lender.

 

 

Ipswich Building Society  - Savings and mortgage society based in Suffolk. 

 

 

 

Jamaica National Building Society  -  A leading Jamaican building society with UK Branches.

 

 


This material and any views expressed herein are provided for information purposes only and should not be construed in any way as an endorsement or inducement to invest in any specific program. Before investing in any program, you must obtain, read and examine thoroughly its disclosure document or offering memorandum.

 

 

 

MONEY FINDER

 

 

 

ABBEY NATIONAL

ALLIANCE & LEICESTER

ALLIED IRISH

ALTERNATIVE INVESTMENTS

ANGELS

ANZ BANK AUSTRALIA

BANK OF AMERICA

BANK OF TOKYO JAPAN

BANK ONE USA

BANKS

BARCLAYS - UK

BAYERISCHE LANDESBANK - Germany

BNP PARIBAS GROUP - France

BILLIONAIRES

BRISTOL & WEST

BRITISH NATIONAL BUSINESS ANGELS

BRITISH VENTURE CAPITAL FIRMS

BUSINESS PLAN

CAHOOT

CANADIAN IMPERIAL BANK - Canada

CHASE MANHATTAN - US

CITIBANK - US

COMEICA BANK - US

CREDIT CARDS

CREDIT LYONNIAS - France

DEUTSCHE BANK - Germany

DOW JONES

DRAGONS DEN

DRESDNER BANK - Germany

ECONOMICS

ELECTRONIC MONEY TRANSFERS

ENTREPRENEUR

EQUITY HOUSES

FINANCIER

FIRST DIRECT

FLEET - US 

FORBES 100 RICHEST

FORBES 500

FOREX INVESTMENTS

FORTUNE 500

FOUNDATIONS - GATES

FTSE

FUJI BANK - JAPAN

HALIFAX

HOLDING COMPANY

HONG KONG STOCK EXCHANGE

HSBC

HSBC BANK USA - UK

HSBC - HK

IMPERIAL BANK - US

INSURANCE

INVESTORS INDEX

 

 

IMF

J PIERPOINT MORGAN

JOHANNESBURG STOCK EXCHANGE

LA SALLE BANK - US

LOANS

LONDON STOCK EXCHANGE - MARKET

LLOYDS

MADRID STOCK EXCHANGE

MARKET CAPITALISATION

MAYBANK - Malaysia

MONEY

MONEY LAUNDERING

MORTGAGES

NASDAQ

NATIONAL AUSTRALIA BANK GROUP

NATIONAL LOTTERY

NATIONAL WESTMINSTER BANK

NATIONAL BUSINESS ANGEL NETWORK

NATIONAL CITY BANK - US

NEW YORK STOCK EXCHANGE

OFFSHORE BANKING

PENSIONS

PLCs

RBS ROYAL BANK OF SCOTLAND

SANWA BANK - Japan

SAVINGS

SHAREHOLDERS

SHARES, STOCKS, DIVIDENDS

SHELL COMPANIES

SIAM COMMERCIAL BANK - Thailand

SOCIETE GENERALE - France

SOUTHERN BANK BERHAD - Malyasia

STANDARD CHARTERED BANK - UK

STATE STREET BANK - US

STOCKS AND SHARES

SUMITOMO MITSUI BANK - Japan

SWISS BANK ACCOUNTS

TAX HAVENS

THAI FARMERS BANK - Thailand

THE AMERICAN DOLLAR

THE POUND STERLING

TORONTO DOMINION BANK - Canada

TRUSTS

UBS AG - Switzerland

UNION BANK OF CALIFORNIA

VENTURE CAPITAL

WALL STREET

WELLS FARGO - US

WEST DEUTSCHE LANDESBANK - Germany

WORLD BANK

WOOLWICH

 

 

 

 

 

 

 

WHEN THE SYSTEM MERGED

 

There has been monumental change in the market over the past decade and now, as far as savers are concerned, there is very little practical difference between banks and building societies.

 

Many building societies have thrown off their mutual status, offering their members shares or a lump sum bonus in return.  The process of building societies morphing into banks is called de-mutualisation.

 

Some groups of building society savers have been trying to get these traditional institutions to turn into banks in the hope of securing a windfall.  Some commentators have suggested that the days of building societies are numbered and that they will all have de-mutualised within a few years.

 

Competition means that banks now offer deals that can equal or beat what is on offer from building societies. Likewise, traditionally banks would offer current accounts, but these days most building societies offer them as well.

 

Many savings accounts can be opened through organisations such as retailers and large supermarkets as well, though in fact these are usually offered in partnership with a bank or building society.  However, building societies such as the Nationwide are holding their own on the High Street, suggesting that the days of the mutual are not numbered.

 

 

 

 

 

CHERRY ACTIVHAUS HOMES

  

 

 

Tel: 01323 831727

Mobile: 07842 607865

 

 

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E-mail: Cherry Homes

 

 

 

 

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