RETENTION OF MUTUAL BUILDING SOCIETIES

Early day motion 96, tabled 9 June 1997 by Julia Drown (Labour). Signed by 77 members.

That this House notes the considerable pressure being applied to the Nationwide Building Society which is committed to remaining mutual to become a bank; further notes that this would threaten homeowners with higher mortgage interest rates and savers with lower interest rates; and calls for the mutual status of building societies to be respected and maintained to ensure that homeowners and savers have more choice.

Signatures by party: Labour 53, Labour/Co-operative 14, Liberal Democrat 6, Conservative 4.