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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

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