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Bath Building Society rides the crest of local house price wave
But while house prices have only increased by 7% in Surrey, 8% in Hertfordshire and by only 6% in Kent and Essex, official statistics show that house prices in Bath and North East Somerset have risen by over 20% in the last year. However, in the last quarter house prices in Bath have fallen by 0.4%. “House prices have the Bath area have grown faster than anywhere else in Britain and this is bound to have helped our performance, even though we now lend widely outside the local area.” Established in 1905, the Society, which has branches throughout Bath and agencies throughout the South West, offers members a comprehensive range of services and products. Bath Building Society prides itself on being closer to its customers, listening to what customers want and ensuring that they have access to the people that make the decisions. The Society also takes pride in supporting the communities in which it operates, investing large sums to support local charities and organizations. Last year approaching 4% of their 2006 profits were invested back into the community - one of the largest levels of contribution relative to size of business in the West of England, and well above the target figure of 1% viewed by Business in the Community as "best practice". In addition to the successes on paper, several Bath Building Society products have been recognised by the trade press for their consistency. The Direct Saver Account has recently featured in leading industry magazine Moneyfacts.co.uk’s list of the most consistent products on the market, having previously been cited as one of the magazine’s ‘Best Buys’. The Introducer Bond 2 investment account is also currently high on the moneyfacts.co.uk table of Best Buys. Moneyfacts.co.uk compares products from all banks and building societies that compete on a like for like basis. Up to date findings can be found by visiting www.Moneyfacts.co.uk Dick Jenkins added, “I think that we have done well on the savings side because, after Northern Rock, people have become suspicious of big banks and prefer the security offered by a Building Society.” “We keep things simple here, and people like to come to an organisation that they can trust. People know we don’t do sub-prime mortgages and complicated inter-bank transactions like bigger banks. The “credit crunch” so far has not really affected us in any negative way.” |
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