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| Author: | Northedge, R. |
| Title: | Building societies at the starting gate. |
| Journal: | Banker
1987 : JAN, VOL. 137:731, p. 30-32, 34 |
| Index terms: | BUILDING SOCIETIES DIVERSIFICATION UNITED KINGDOM |
| Language: | eng |
| Abstract: | The effects of the financial revolution in London reached the building societies, too. The Building Societies Act will allow the home loans groups to become builders, bankers or even investor bankers. Until now their current base was financing homes (and nothing else) with savings solicited from the public. Of course, even before this new law some building societies diversified within the old law. The new law allows societies to own estate agents, to clear their own cheques, etc. In contrast, these societies are reluctant to use the new opportunities. |
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