Building Societies in the UK - Industry Market Research Report
Description
Building Societies in the UK
Building society revenue is anticipated to increase at a compound annual rate of 9% over the five years through 2023-24 to £26 billion. Low interest rates prior to the COVID-19 outbreak aided demand, as residential mortgage repayments became more affordable and the number of mortgage approvals picked up. Building societies have also benefited from an influx of re-mortgaging activity, as homeowners have sought to lock in lower rates before expected interest rate rises. However, societies faced challenging operating conditions, including intense competition from other financial institutions like retail banks, and a tightening regulatory environment.
Building societies are cooperative financial institutions that are owned by their members (i.e. their customers, depositors and borrowers). Like banks, they take deposits and provide banking and financial services, particularly mortgage lending. Unlike banks, however, profit is distributed among its members rather than among external shareholders.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Building society revenue is anticipated to increase at a compound annual rate of 9% over the five years through 2023-24 to £26 billion. Low interest rates prior to the COVID-19 outbreak aided demand, as residential mortgage repayments became more affordable and the number of mortgage approvals picked up. Building societies have also benefited from an influx of re-mortgaging activity, as homeowners have sought to lock in lower rates before expected interest rate rises. However, societies faced challenging operating conditions, including intense competition from other financial institutions like retail banks, and a tightening regulatory environment.
Building societies are cooperative financial institutions that are owned by their members (i.e. their customers, depositors and borrowers). Like banks, they take deposits and provide banking and financial services, particularly mortgage lending. Unlike banks, however, profit is distributed among its members rather than among external shareholders.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
46 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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