Definition of building society in English:
A financial organization which pays interest on investments by its members and lends capital for the purchase or improvement of houses.
- Child Trust Fund accounts are available from banks, building societies and other financial organisations.
- High-rise flats or tower blocks are considered by many banks and building societies unsuitable for mortgage lending.
- Later, other lenders jumped on board the lucrative credit bandwagon, including building societies and smaller banks.
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