Business terms and jargon
explained. Your business dictionary
Building Society
This a mutal organisation which is owned by its members. This comprises of both its savers and borrowers. This does not include shareholders as this type of organisation does not have any. There has been a lot of changes since they first started operating and now are allowed to raise funds throught the money markets since the 1980's.
The main purpose of the building society is to lend money for mortgages or remortgages. It also offers other financial services.
Copyright © 2004-2006 [Scopulus Limited]. All rights reserved.