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TheCountOfNowhere

Uk Building Societies, Are Healthy, The Bbc Tells Me....

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http://www.bbc.co.uk/news/business-24194720

"Building societies are healthy, KPMG says"

"In its assessment of the financial health of the UK's building societies, KPMG said that 35 out of 46 saw their assets grow in 2012."

"The report added that borrowers should see benefits from this."

"But it warned that savers were "unlikely" to see rates improving any time soon."

Im not sure this is as bad as ( from 2007 ):

http://news.bbc.co.uk/1/hi/6994328.stm

"But experts and officials insist that Northern Rock, which has £113bn in assets, is not in danger of going bust." :lol::lol::lol:

"Angela Knight, chief executive of the British Bankers' Association, said that anybody who was "either a saver with Northern Rock or has got a mortgage... can be absolutely confident that they have got their money with or they have borrowed from a very sound financial institution."" :lol::lol::lol::lol:

Edited by TheCountOfNowhere

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Propaganda oh, oh, Propaganda oh, oh , Propaganda, that's what you need.

If you want to be the best, out print the rest.

Who-oh Propaganda's what you need

If you want to be a money printer, yeah.

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So that means 35 out of 46 saw their liabilities grow as well.

This is reassuring the week after Nationwides latest downgrade.

I personally have moved money out of some building societies lately, due to the crazy low interest rates.

They seem to care now about their savers....only about keeping their borrowers happy ( and their balance sheet solvent ).

You reap what you sow I'm afraid and they are pushing their savers away which should be the life blood of any well run B.S.

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Propaganda oh, oh, Propaganda oh, oh , Propaganda, that's what you need.

If you want to be the best, out print the rest.

Who-oh Propaganda's what you need

If you want to be a money printer, yeah.

Like it B)

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I think what KPMG are saying is that now thei have pushed up the price of houses by 3% in the last year the B.S. are looking much healthier balance sheet wise...meanwhile the savers are being screwed and the general population can';t afford to eat, buy petrol or heat their houses.

Brilliant. Well done Mr Cameron.

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I personally have moved money out of some building societies lately, due to the crazy low interest rates.

They seem to care now about their savers....only about keeping their borrowers happy ( and their balance sheet solvent ).

You reap what you sow I'm afraid and they are pushing their savers away which should be the life blood of any well run B.S.

West Bromwich Thread

Interesting move by the West Bromwich proves that there are some potenitally nasty clauses in their T+C's.

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Legally they shouldn't be allowed to call themselves Building Societies unless they actually fund a material amount of new building.

Should be more accurately labelled 'Hoarding Societies.'

Edited by aSecureTenant

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Legally they shouldn't be allowed to call themselves Building Societies unless they actually fund a material amount of new building.

Should be more accurately labelled 'Hoarding Societies.'

Or perhaps....Debt Societies.

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