In Britain, a building society is a business which will lend you money when you want to buy a house. You can also invest money in a building society, where it will earn interest. Compare savings and loan association.
building society in British English
noun
(in the UK) 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
Examples of 'building society' in a sentence
building society
The building society is quite frank about not being an international bank.
Times, Sunday Times (2017)
She was working for a building society.
Times, Sunday Times (2016)
Applicants who seeks to open a bank or building society account are then checked against it.
Times, Sunday Times (2016)
They are only paid if they are picked and no building society would arrange a mortgage for you based on that unsecured income.
Times, Sunday Times (2016)
Why would you, if the treats used to lure you to a new bank or building society disappear so rapidly?
Times, Sunday Times (2016)
Will we miss our old building societies?
Times, Sunday Times (2009)
Dealing directly with the public means that banks and building societies also make more money for themselves.
Times, Sunday Times (2008)
The building society offered a loan subject to survey.
Times, Sunday Times (2012)
The first step is to submit your application to the new bank or building society.
Times, Sunday Times (2014)
Building societies have also been squeezing borrowers.
Times, Sunday Times (2006)
Banks and building societies are also reluctant to lend to landlords with a big portfolio.
Times, Sunday Times (2015)
People who still write cheques made payable only to a bank or building society may have their cheque declined.
The Sun (2006)
Building societies have also been big contributors to the compensation scheme that has helped to bail out failed banks.
Times, Sunday Times (2010)
Banks and building societies may also require you to have insurance to cover damage to the property or the public.
Times, Sunday Times (2007)
Building societies also drew sizeable loans.
Times, Sunday Times (2010)
Nationwide building society also offers interest-only to those with small deposits.
Times, Sunday Times (2010)
Building societies are also often open to assessing individuals on a case-by-case basis.
Times, Sunday Times (2016)
The transfer must be made directly between the old and new providers, so you must first go to the new bank or building society.
Times, Sunday Times (2010)
The news came as the Nationwide building society reported that house price rises slowed in January.
Times, Sunday Times (2006)
The building society said house prices were down by 0.8 per cent this month, far worse than forecast.
Times, Sunday Times (2007)
Three years ago, we remortgaged our house with a building society, but recently paid off the final instalment.
Times, Sunday Times (2013)
A year ago, the building society reported annual house price inflation of 11.8 per cent.
The Sun (2015)
I recently wanted to obtain the original deeds for my house but my building society said the deeds had been destroyed, and that this was government policy.