building society

noun

1. a cooperative organization that accepts deposits of money from savers and uses them to make loans, secured by mortgages, to house buyers. Since 1986 they have been empowered to offer banking services

Example Sentences

Savers would likely see a reduction in the returns offered by banks and building societies.

From BBC

The UK's base interest rate, which dictates the borrowing costs charged by banks and building societies on loans, is currently 5%.

From BBC

The building society said that annual growth was the highest since November 2022, with terraced homes driving the increase.

From BBC

Mortgage lenders' attempts to lure in first-time buyers have stepped up with the UK's biggest building society allowing some to borrow more.

From BBC

Individual banks and building societies have been under pressure to pass on the recent higher interest rates to customers.

From BBC