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Building society saving and lending both up

Building society gross advances rose to £2,327m in November from £2,219m in October and savings are at their highest level for three years, according to latest figures from the Building Societies Assocition.

Building societies attracted £1,095m into the savings market in November, up 30 per cent from the previous month. The seasonally adjusted figures showed the amount as more than doubling, from £469m in October to £947m in November.

BSA director-general Adrian Coles says: “The steady rise in building societies&#39 gross advances for the third month in a row reflects recent industry reports of an underlying upward trend in house prices.”

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