BRADFORD AND BINGLEY BUILDING SOCIETY

Early day motion 556, tabled 19 April 1999 by Kerry Pollard (Labour). Signed by 54 members.

That this House expresses its concern that if the Bradford and Bingley Building Society were to become a bank, serious damage would be caused to the entire building society movement, which would directly affect every person in the United Kingdom who wished to take out a mortgage to buy a home; believes that the evidence shows that mortgages from building societies are cheaper than those from banks because building societies do not have to make a profit for shareholders; further believes that homes are the bedrock of our communities and that people need the cheapest mortgages which are invariably provided by building societies; and therefore encourages all members of the Bradford and Bingley Building Society to use their vote to retain its mutual status.

Signatures by party: Labour 39, Liberal Democrat 7, Labour/Co-operative 6, Conservative 2.