Building societies attracted record levels of deposits for the third consecutive month in November as customers continued to withdraw their money from Northern Rock and the high interest rates on offer lured in savers. Daily Telegraph
According to the Building Societies Association, its members had net receipts of £2.35bn last month, below a record £3.02bn in October but still the third-highest on record after the £2.82bn received in September – in the immediate aftermath of the run on Northern Rock.
Building societies have now attracted net deposits of £8.2bn in the past three months, close to the level for all of 2006.