View more on these topics

Principality posts record £314m in new business

The Principality Building Society took a record £314m mortgage business in 1998, an 11 per cent increase on 1997.


Its total savings grew by 10 per cent to £182m. Pre-tax profits for the society increased to £16.5m from £15.8m.


Chief executive John Mitchell says: &#34We are particularly pleased with the 11 per cent increase in mortgage lending because most competitors found 1998 very difficult and land registry figures show that house prices fell by 5 per cent in Wales during the year.&#34

Recommended

Commons motion backs building societies

A Commons motion backing the building societies against the carpetbaggers and calling for a Government review of regulations has received the support of 54 MPs.The early day motion, put down by all party building society group chairman Andrew Love warns that building societies &#34cannot compete on a level playing field&#34 because of the disruption.

Royal & SunAlliance announces range of cuts in with-profits products

Royal & Sun Alliance has announced a cut in its bonus rates across its range of products in 1999.Bonus rates on unitised with-profits pensions have been cut to 6.5 per cent from 8 per cent.The annual bonus on conventional with-profits life products falls to 1.75 per cent from 2.75 per cent and on the sum […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment