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Building Society Association releases September figures

Building Society gross advances were £2,219 last month, up from £2,168 m in September according to figures released by the Building Societies Association.

But net advances fell to £803m from £841m in the same period.

Loan approvals also fell to £2,227m from £2,284m. and new savings were down to £845 million from £937m.

Building Societies Association director general Adrian Coles says “Following a strong savings inflow in the summer months, building societies have seen net receipts fall slightly this month, nevertheless the figure is still relatively healthy.”

“Moreover during the first quarter of the 2000/01 tax year, building societies attracted 42 per cent of the amount subscribed to cash ISAs.”

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