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.
This statistic shows the monthly development in the value of gross mortgage lending provided by building societies in the United Kingdom (UK) from January 2017 to March 2021. As of March 2021, the gross mortgage lending by building societies peaked at approximately 7.7 billion British pounds, up from 4.6 billion British pounds in March 2020. This dramatic increase could be explained with the lower volumes registered in 2020 during the coronavirus (COVID-19) pandemic. The fluctuation in lending can also be seen in the number of mortgage loan approvals.
Monthly value of building societies residential mortgage loans in the United Kingdom (UK) from January 2017 to March 2021
(in million GBP)
* Balances outstanding are affected by securtization activity in the month. The source added the following information, "Mortgage lending is made up of loans to individuals and housing associations secured on dwellings up to November 2013. From December 2013 mortgage lending excludes loans to housing associations."
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Building Societies Association. (May 24, 2021). Monthly value of building societies residential mortgage loans in the United Kingdom (UK) from January 2017 to March 2021 (in million GBP) [Graph]. In Statista. Retrieved August 08, 2022, from https://www.statista.com/statistics/429460/uk-gross-mortgage-lending-building-societies/
Building Societies Association. "Monthly value of building societies residential mortgage loans in the United Kingdom (UK) from January 2017 to March 2021 (in million GBP)." Chart. May 24, 2021. Statista. Accessed August 08, 2022. https://www.statista.com/statistics/429460/uk-gross-mortgage-lending-building-societies/
Building Societies Association. (2021). Monthly value of building societies residential mortgage loans in the United Kingdom (UK) from January 2017 to March 2021 (in million GBP). Statista. Statista Inc.. Accessed: August 08, 2022. https://www.statista.com/statistics/429460/uk-gross-mortgage-lending-building-societies/
Building Societies Association. "Monthly Value of Building Societies Residential Mortgage Loans in The United Kingdom (Uk) from January 2017 to March 2021 (in Million Gbp)." Statista, Statista Inc., 24 May 2021, https://www.statista.com/statistics/429460/uk-gross-mortgage-lending-building-societies/
Building Societies Association, Monthly value of building societies residential mortgage loans in the United Kingdom (UK) from January 2017 to March 2021 (in million GBP) Statista, https://www.statista.com/statistics/429460/uk-gross-mortgage-lending-building-societies/ (last visited August 08, 2022)