Building Societies see Net Lending Shrink and Savings Reduced in June

The latest figures from the Building Societies Association (BSA), released today, show:

• Building society gross lending was £1,976 million in June 2009 compared to £3,254 million in June 2008.
• Net lending by building societies in June 2009 was -£511 million compared to -£471 million in June 2008.
• Mortgage approvals in June 2009 were £1,817 million compared to £2,721 million in June 2008.
• Including interest credited, savings balances held by building societies decreased by £1,913 million in June 2009, compared to a £865 million increase in June 2008.
• Building societies had a net withdrawal of £2,239 million in June 2009 compared to net receipt of £419 million in June 2008.
• Building societies had a net withdrawal of £714 million from Cash ISAs in June 2009, compared to net receipts of £75 million in June 2008.

Press Release: Building Societies Association.

Funding Table [PDF]

Lending Table [PDF]

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