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All uk banks and building societies are registered with the financial services authority fsa and if the firm is regulated all deposits are protected by the financial services compensation scheme fscs.
Empire state building how tall. Where you hold your money could affect how much compensation youre entitled to. In recent years many of the larger uk building societies have moved into the estate agency business. Building society a financial institution which offers a variety of savings accounts to attract deposits mainly from the general public and which specializes in the provision of long term mortgage loans used to purchase property in recent years many of the larger uk building societies have moved into the estate agency business.
Building society a financial institution that offers a variety of savings accounts to attract deposits mainly from the general public and which specializes in the provision of long term mortgage loans used to purchase property. However with the exception of nationwide building societies services are only available on a regional basis which is clearly a factor that significantly influences a generation always on the move. A building society is a type of financial institution that provides banking and other financial services to its members.
Additionally they have entered into arrangements with other. Building societies exist in the united kingdom australia and new zealand and used to exist in ireland and several commonwealth countries. Following changes to european legislation in january 2011 the fscs deposit compensation threshold increased to 100000 or around 85000 providing further protection to uk depositors.
Building societies offer banking and related financial services especially savings and mortgage lending. Your bank or building society must be authorised by the prudential regulation authority check this on the financial services register. Building societies other financial institutions in bishops stortford use thomsonlocal to find and compare trusted local businesses.
Whilst building societies do focus more on financial products like savings and mortgages they are still able to offer the same services that banks provide such as current accounts for example. If your bank or building society fails and cant pay back your money fscs can automatically pay you compensation. What is a building society.
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