Banking on trust: Why building societies are facing the perfect storm
They have been touted as trusted, local lenders who take a personal approach to supporting your efforts to save and lending money to buy a home. But now, with societies reducing in number, are building societies facing the perfect storm in the current climate?
Is this in part because we’re a more transient society, in possession of the information to select the highest savings or lowest mortgage rate with ease and the competitive market to access them, rather than pay for ethos and locality?
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