Building Societies

For Building Societies by market share See: Top 10 and Top 20 Building societies

The Credit Rating of Biggest Building Societies and Risk for Savers

These are the biggest building societies which have not converted into being banks

Nationwide

The nationwide is the UK’s largest building society, it covers over 50% of the building society market share. It is also the UK’s second biggest mortgage lender after Lloyds TSB / HBOS

The Nationwide will also be acquiring the Derbyshire and Cheshire

It has assets worth £179 billion and made profits of £781 million

The Nationwide has a good credit rating of AA Minus

Britannia

The second biggest building society in the UK. It has 2.7 million savers and 252, borrowers.
The average value of its loans to underlying properties is 44% – a low ratio.
The Britannia has diversified away from traditional building society business with its Brittannic Capital investment. Through Portman it also got involved in specialist loans, which led to a £40million write off in 2008
Credit Risk A

Yorkshire

Sticks to basic building society model of savings and mortgages.
Very low repossession rate at moment.
£20.5billion assets.

Credit Risk A

Skipton

Based in Skipton, Yorkshire it has  700,000 savers and 75,000 borrowers. It also owns Connells, the UK’s second biggest estate agency network, and Callcredit, a credit reference agency. It has assets of £13.5 billion and profits at half-year were £44 million. The society repossessed 12 properties at the end of the last financial year, representing 0.014 per cent of its housing stock. Its average loan-to-value is 45 per cent.
Credit rating: A

Chelsea

Has 95,000 borrowers, 462,500 savers and assets of £14 billion.
Credit Rating A

Generally, the largest building societies are well placed to deal with the credit crunch

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