Children lose out on building society windfalls
Article Abstract:
Bonuses given by UK building societies when they carry out a flotation or are acquired may not be available for children. Some building societies argue that legal restrictions prevent them from paying bonuses to children aged under 18 years old, while others do make such payments. Other savers are also excluded, such as those who appear as a the second name on joint accounts, and offshore account holders. Cash and shares are offered by some building societies as a means of widening the groups who receive bonuses.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Place your building society bets now
Article Abstract:
UK investors can place savings in building societies in the hope of benefiting from a takeover or flotation. Loss of mutual status can bring payouts for savers. Interest rates tend to be low, especially for instant access accounts, and savers cannot be sure that they will benefit. Some building societies are asking for a minimum of 500 pounds sterling before a new account can be opened. There are ten building societies which are most likely to bring bonuses, but there is no certainty that this will occur.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Don't back this building society bet
Article Abstract:
Cairngorm Building Societies Investment Trust is a UK fund specialising in building societies. The trust hopes that gains can be made by investing in permanent shares when the building societies convert to become banks. The share price of the fund initially fell, then rose in late Jul 1996. Investors cannot easily sell their shares. There is little evidence that more building societies plan to convert and there is concern about capital growth of the fund.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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