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Mortgage Guide
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How
to Choose your Mortgage
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The pros and cons of mutual building societies - over banks and other mortgage lenders
Building Society Pros:
·
Owned by the members – members have a direct
say in decision making.
· More democratic. Every member
has a vote
· Works for the interests of the members,
not of the shareholders and financiers.
· Often offers better saving and borrowing
rates.
· An investment for the long term
– offering security and dependability.
Building Society Cons:
·
While democratic in theory member control is often a myth
with the real power resting with managerial cliques.
· Members’ share is locked into
the society. One of the arguments for demutualisation is that
the members’ share is freed up in the shape of a windfall.
· Members bear the risks, as well
as the rewards, of the market and are not protected by the
shareholders or limited company status.
· There is no access to external equity capital
which societies argue is essential to competing in the modern
financial market.
Building Society demutualisation
Pros and cons of Building Societies
Full list of local UK Building Societies
To read more on this subject please see the list below or your mortgage guide or your home buying guide
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Deciding
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Comparing
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Mortgage
Basics
How
to Choose your Mortgage
Types of Mortgage
Where to Find Your Mortgage
Getting a Mortgage in Principle
Building Society Mortgage Pros Cons
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
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