Gross mortgage lending of building societies in the UK 2017-2022
Due to the coronavirus pandemic, the mortgage lending by building societies decreased in the second quarter of 2020, followed by a period of recovery in the second half of the year and several spikes in 2021. As of March 2022, the gross mortgage lending by building societies totaled almost 6.7 billion British pounds, down from7.7 billion British pounds in March 2021. The fluctuation in lending can also be seen in the number of mortgage loan approvals.
Building societies, unlike banks are not listed on the stock market and thus, don't have external shareholders. Instead, the "owners" and decision makers of building societies are mortgage borrowers, savers and current account holders. Building societies offer many traditional banking products and financial services such as mortgage lending, savings and current accounts.
Building societies, unlike banks are not listed on the stock market and thus, don't have external shareholders. Instead, the "owners" and decision makers of building societies are mortgage borrowers, savers and current account holders. Building societies offer many traditional banking products and financial services such as mortgage lending, savings and current accounts.
