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What (who) is building society - definition
Building society
![demutualise]] in July 1989.](https://commons.wikimedia.org/wiki/Special:FilePath/Abbey National bank on Commercial Street, Leeds.jpg?width=200 "demutualise]] in July 1989.")
CREDIT INSTITUTION
Building Society; Building societies; Building Societies in the United Kingdom; Building Societies; List of building societies; Mutual building societies; Mutual building society; List of building societies in the United Kingdom
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially savings and mortgage lending.
building society
CREDIT INSTITUTION
Building Society; Building societies; Building Societies in the United Kingdom; Building Societies; List of building societies; Mutual building societies; Mutual building society; List of building societies in the United Kingdom
(building societies)
In Britain, a building society is a business which will lend you money when you want to buy a house. You can also invest money in a building society, where it will earn interest. Compare savings and loan
association.
association.
N-COUNT
building society
CREDIT INSTITUTION
Building Society; Building societies; Building Societies in the United Kingdom; Building Societies; List of building societies; Mutual building societies; Mutual building society; List of building societies in the United Kingdom
¦ noun Brit. a financial organization which pays interest on members' investments and lends capital for mortgages.
Examples of use of building society
1. West Bromwich Building Society, Cambridge Building Society and Cumberland Building Society have scrapped their entire range.
2. The Alliance and Leicester name was born in 1'85 after the merger of the Alliance Building Society and Leicester Building Society.
3. Other lenders offering 25–year fixed rate deals are Kent Reliance, Manchester Building Society, the Co–op, Cheshire Building Society and Norwich Peterborough.
4. Income from my building society savings could be paid into it each month and immediately paid back into the building society by bankers order or direct debit.
5. Bath Building Society and Earl Shilton Building Society have withdrawn all of their home loans, except those on their standard variable rate.