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BSA says societies are attracting funds due to stock market turmoil

Net-lending from building societies fell 10.5 per cent to £1.88bn in October from £2.1bn in September, according to the latest figures.

The Building Societies Association&#39s monthly survey shows more people were putting savings in societies rather than equities to escape the recent stockmarket turmoil.

The Building Societies Association says building societies attracted savings of £1.1bn in October, up from £871m in September.

BSA director-general Adrian Coles says: &#34The housing market is enjoying a period of relative stability with building society lending figures in October very similar to those in September.&#34


Government criticised on level of state pension

The Government has been criticised for intending to increase the basic state pension in line with high street prices instead of earnings.A group of academics, politicians and religious leaders, including Baroness Barbara Castle, has called for state pensions to be increased to at least £75 a week compared with the £66.75 currently proposed.It claims the […]

Aon says healthcare insurance inflation running at six per cent

Private Medical Insurance inflation is running at six per cent according to the latest survey by Aon Consulting.The healthcare intermediary surveyed 875 companies covering 315,000 insured members.It found that most common single premium rate ranges between £251 and £300 a year. The survey shows that the market is dominated by two companies PPP Healthcare and […]

CGU presents Christmas hamper to first ever customer

CGU is going to present its first ever policyholder with a Christmas present she is unlikely to ever forget.Betty Boyes of Guisborough in Cleveland is to be presented with a hamper by CGU Life senior financial consultant John Smith.Smith says: &#34Congratulations to Mrs. Boyes on becoming CGU Life&#39s first policyholder. She was looking for an […]

BSA backs cash ISA

The Building Societies Association has backed the Treasury&#39s recent Cat-standard proposals for cash individual savings accounts.BSA believes Cat-standards for cash isas will reassure inexperienced savers in an increasingly complex and crowded savings market.The Cat-standard cash ISAs stipulate no charges, a minimum transaction size no greater than £10, withdrawals within seven working days and interest rates […]


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