Building societies Association (BSA) has recorded net receipts of GBP2.35 million in November 2007, compared to net receipts of GBP848 million in the same period of previous year. The gross advances of the BSA decreased to GBP4.1 million in November 2007, compared to GBP4.6 million in November 2006.
Adrian Coles, director general of Building Societies Association, said: Building societies continued to attract record inflows in November, albeit slightly reduced from the extraordinarily high figures of September and October. Much of these savings are likely to come from further withdrawals from Northern Rock bank. They also reflect the attractive rates of interest on offer at building societies which are encouraging people to save.
