Building Society Deposits Highest Since 1997
Deposits to building society savings accounts the highest for 8 years according to official figures
20th January 2006
The Building Societies Association (BSA) has released figures showing the highest savings deposits since 1997, and the second highest since 1988.
Net inflows to building societies were £1,138m in 2005, compared to £998m the year before, as deposits increased while lending slowed.
Commentating on the figures, the Adrian Coles of the BSA said:
"Clearly people trust building societies to offer good value and a safe home for their savings. Over-indebtedness grabs the headlines, but these figures show that many people are sensibly looking after their future."
Other figures in the report concerned the mortgage market, which the BSA beleives will achieve a 'soft landing' with a steady market without excessive house price inflation.
Read More: Building Societies Assocation
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