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Building Society in United Kingdom

Definition of Building Society

In accordance with the work A Dictionary of Law, this is a description of Building Society : A corporation established under the Building Societies Acts for the purpose of making loans to its members on the security of mortgages on their homes, out of funds invested by its members. Generally a building society’s security must be a first legal mortgage on the borrower’s home. However, the Building Societies Act 1986 now empowers societies to lend on the security of second mortgages and to provide a wide range of banking and other financial services.

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(2015, 06). Building Society lawi.org.uk Retrieved 07, 2021, from https://lawi.org.uk/building-society/

06 2015. 07 2021 <https://lawi.org.uk/building-society/>

"Building Society" lawi.org.uk. lawi.org.uk, 06 2015. Web. 07 2021. <https://lawi.org.uk/building-society/>

"Building Society" lawi.org.uk. 06, 2015. Accesed 07 2021. https://lawi.org.uk/building-society/

Agostino Von Hassell, 'Building Society' (lawi.org.uk 2015) <https://lawi.org.uk/building-society/> accesed 2021 July 30

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Schema Summary

  • Article Name: Building Society
  • Author: Agostino Von Hassell
  • Description: Definition of Building Society In accordance with the work A Dictionary of Law, this is a description of Building Society : [...]

This entry was last updated: June 23, 2015

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