Building Societies: offering financial assistance

www.buildingsocieties.co.uk offer information about history to details about all the building societies operating in the United Kingdom.

Sydney, Australia (prHWY.com) January 23, 2012 - Financial institutions which are owned by its members for the benefit of offering banking and other financial services to its members has come to be known as a building society. Building societies are known to offer bank like services and also provide for tough competition to banks.

Building societies came to be existed in the 18th century in the United Kingdome when a group of individuals came forward with the basic aim of owning and having their personal houses. They offered funds in a joint account which helped in making identical houses with same amount of resources and once the houses were constructed they were distributed in the basis of lottery amongst its members. This not only helped in getting a house in easy installments but also helped many in fulfilling their house owning dream.

If history is to be believed then building societies started in the Birmingham in the 18th century which was undergoing rapid changes in terms of economy and expansion. Then in the 19th century came the moment when these building societies started borrowing money from investors for building houses on a more constant and rapid rate. This helped the building societies to move into a role similar to those of banks as they moved from building houses organization to an institution which offered financial assistance to people who wished to build their own houses through mortgage facilities.

To many the concept of having an owned house seemed and still seems to be a better idea than to fall into the trap of rentals. Though banks have always existed for many centuries now however many felt that approaching building societies for their home needs was a better option. These building societies function in every part of United Kingdom which further helped in its popularity with the masses as people feel that it helps them in managing their accounts in a better way.

It is a big misunderstanding that building societies and banks offer same services the same way but it must be understood that they differ in the way they operate.

www.buildingsocieties.co.uk offers all details pertaining to building societies. The site offers useful insights about history and various building societies operating in the United Kingdom. For any and every information on building societies all you need to do is log on to www.buildingsocieties.co.uk. So just log on and find answers to all that you needed to know.

CONTACT INFORMATION
Contact Person: David Lye
Company Name: Building societies
Tel. No : 1300 303 181
Email ID : info@publishingaustralia.com.au
Website : http://www.buildingsocieties.co.uk

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Tag Words: building societies, building societies uk, bank building societies

Categories: Finance

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