-
St Mary Magdalen Bermondsey+44 20 7357 0984St Mary Magdalen Bermondsey is a religious institution located in London, England. The organization offers a variety of services related to religion and faith, including Catholic, Christian, and Protestant churches, as well as monasteries. In addition, St Mary Magdalen Bermondsey provides financial services through its building societies. The institution is committed to serving its community and promoting its religious values.See more
Definition of Building Societies
Building Societies are financial institutions that are owned by their members and offer savings and mortgage products. They are also known as mutual organisations, as they are not listed on the stock market and are not owned by shareholders. The primary aim of Building Societies is to provide affordable mortgages to their members, along with other savings and investment products.
History of Building Societies in the UK
Building Societies have a long history in the UK, dating back to the late 18th century. The first Building Society was established in Birmingham in 1775. In the 19th century, Building Societies grew rapidly and became an important source of funding for the construction of houses. Today, there are over 40 Building Societies in the UK, with assets worth over £400 billion.
How Building Societies differ from Banks
Building Societies differ from banks in several ways. Firstly, they are owned by their members, whereas banks are owned by shareholders. This means that Building Societies are not part of the stock market and are not focused on generating profits for shareholders. Secondly, Building Societies have a narrower range of products, focusing primarily on mortgage and savings products. Finally, Building Societies often have better rates on savings accounts and mortgages than banks, as they are not focused on generating profits for shareholders.
Products and Services offered by Building Societies
Building Societies offer a range of products and services, including mortgages, savings accounts, current accounts, and insurance products. They also offer financial planning services, including retirement planning and investment advice. Building Societies are particularly known for their mortgage products, which are often designed to be more affordable and flexible than those offered by banks.
Benefits of banking with Building Societies
Banking with Building Societies has several benefits. Firstly, as they are owned by their members, there is a focus on customer service and meeting the needs of members. Secondly, Building Societies often offer better rates on savings accounts and mortgages than banks, which can result in significant savings. Finally, Building Societies are often more flexible in their approach, which can be particularly beneficial for those with complex financial needs.
Risks associated with Building Societies
Like all financial institutions, there are risks associated with banking with Building Societies. One risk is the potential for the Building Society to go out of business or be merged with another institution, which could affect the terms of any savings or mortgage products. Another risk is the potential for interest rates to change, which could affect the value of savings or mortgage payments.
Regulations governing Building Societies
Building Societies are regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). These organisations ensure that Building Societies are operating in a safe and fair manner, and protect customers in the event of the Building Society encountering financial difficulties.
Comparison of Building Societies with other Financial Services providers
Compared to banks, Building Societies often offer better rates on savings accounts and mortgages, and have a greater focus on customer service. However, they have a narrower range of products and may not offer some of the more specialist financial services that banks do. Compared to other mutuals, Building Societies may offer more competitive rates, but may not have the same level of history and reputation.
How to choose the right Building Society for your needs
When choosing a Building Society, it is important to consider factors such as interest rates, fees, and customer service. It is also important to consider the range of products and services on offer, and whether they meet your financial needs. Finally, it is important to consider the reputation and history of the Building Society, and whether it is likely to be a safe and stable place to save or borrow from.
Future outlook for Building Societies in the UK market
The future outlook for Building Societies in the UK market is positive, as customers are increasingly looking for more ethical and customer-focused alternatives to traditional banks. Building Societies are well-positioned to take advantage of this trend, and are likely to continue to grow and innovate in the coming years.

Pick a keyword

Select location

Select category

View results!!!
-
Building Societies
in London
(66)
-
Building Societies
in Walbrook
(6)
-
Building Societies
in Cornhill
(5)
-
Building Societies
in Cathedrals
(4)
-
Building Societies
in Castle Baynard
(4)
-
Building Societies
in Farringdon Within
(4)
-
Building Societies
in Coleman Street
(4)
-
Building Societies
in Farringdon Without
(4)
-
Building Societies
in Bishopsgate
(4)
-
Building Societies
in Vauxhall
(4)
-
Building Societies
in Elephant & Castle
(3)
-
Building Societies
in Langbourn
(3)
-
Building Societies
in Broad Street
(3)
-
Building Societies
in Whitechapel
(3)
-
Building Societies
in Ludgate Hill
(27)
-
Building Societies
in St Paul's
(26)
-
Building Societies
in Old Bailey
(26)
-
Building Societies
in Mansion House
(25)
-
Building Societies
in Puddle Dock
(25)
-
Building Societies
in Farringdon
(25)
-
Building Societies
in Blackfriars
(24)
-
Building Societies
in Barbican
(23)
-
Building Societies
in Bank
(22)
-
Building Societies
in City of London
(22)
-
Building Societies
in Charing Cross
(22)
-
Building Societies
in Monument
(21)
-
Building Societies
in Cannon Street
(21)
-
Building Societies
in Fenchurch Street
(21)
-
Building Societies
in Fleet Street
(21)
-
Building Societies
in Grange
(2)
-
Building Societies
in Bermondsey
(2)
-
Building Societies
in Aldgate
(2)
-
Building Societies
in Wapping
(2)
-
Building Societies
in Tower Hill
(18)
-
Building Societies
in Waterloo
(18)
-
Building Societies
in Tower of London
(17)
-
Building Societies
in South Bank
(17)
-
Building Societies
in Westminster Abbey
(13)
-
Building Societies
in East Walworth
(1)
-
Building Societies
in Dowgate
(1)
-
Building Societies
in Billingsgate
(1)
-
Building Societies
in Vintry
(1)
-
Building Societies
in Queenhithe
(1)
-
Building Societies
in Kennington
(1)
-
Building Societies
in Candlewick
(1)
-
Building Societies
in Old Kent Road
(1)
-
Building Societies
in Bishop's
(1)
-
Building Societies
in Bread Street
(1)
-
Building Societies
in Lime Street
(1)
-
Building Societies
in Camberwell
(1)
-
Certified Public Accountants
in Chaucer
(6)
-
Accountants
in Chaucer
(5)
-
Office Equipment Rental Services
in Chaucer
(5)
-
Appraisers
in Chaucer
(4)
-
Commercial Agents
in Chaucer
(4)
-
Finance Brokers
in Chaucer
(4)
-
Visa Consultants
in Chaucer
(4)
-
Conveyancers
in Chaucer
(3)
-
Real Estate Attorneys
in Chaucer
(3)
-
Car Leasing Services
in Chaucer
(2)
-
Corporate Offices
in Chaucer
(2)
-
Money Order Services
in Chaucer
(2)
-
Mortgage Brokers
in Chaucer
(2)
-
Private Equity Firms
in Chaucer
(2)
-
Stock Brokers
in Chaucer
(2)
-
Tax Consultants
in Chaucer
(2)
-
Tax Preparation Services
in Chaucer
(2)
-
Accounting Firms
in Chaucer
(1)
-
Atms
in Chaucer
(1)
-
Banks
in Chaucer
(1)
-
Bookmakers
in Chaucer
(1)
-
Betting Agencies
in Chaucer
(1)
-
Business Brokers
in Chaucer
(1)
-
Chartered Accountants
in Chaucer
(1)
-
Chartered Surveyors
in Chaucer
(1)
-
Consultants
in Chaucer
(1)
-
Credit Reporting Agencies
in Chaucer
(1)
-
Currency Exchanges
in Chaucer
(1)
-
Currency Exchange Services
in Chaucer
(1)
-
Customs Brokers
in Chaucer
(1)
-
Debt Collectings
in Chaucer
(1)
-
Financial Consultants
in Chaucer
(1)
-
Financial Institutions
in Chaucer
(1)
-
Investment Companies
in Chaucer
(1)
-
Investment Services
in Chaucer
(1)
-
Notary Publics
in Chaucer
(1)
-
Paralegal Services Providers
in Chaucer
(1)
-
Patent Attorneys
in Chaucer
(1)
-
Private Sector Banks
in Chaucer
(1)
-
Public Sector Banks
in Chaucer
(1)
-
Property Investments
in Chaucer
(1)
-
Tax Attorneys
in Chaucer
(1)