Building societies have been providing mortgages in one form or another since the 18th Century. They were begun as institutions owned by the contributing members, the purpose of which was to help working people buy their own homes during the industrial revolution. New societies continued to establish themselves all over the UK throughout the 19th and 20th Centuries.
In 1986, under the newly passed Building Societies Act, they were allowed to extend their services to include some traditional banking services. However, Government legislation still requires that 75% of their business base must be residential mortgages. This history and experience makes them very well qualified to provide specialised mortgage services. Like most lenders, banks and specialist mortgage companies included, building societies have websites which make it easy to research mortgage information online.
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