BRADFORD AND BINGLEY BUILDING SOCIETY

Motion Text

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.