Where do building societies get their funds for mortgages?

Question

in the uk

Answer 1

From investors.

Answer 2

your savings.....they borrow your money to give to others....its very tecnical but all the money you and others put in goes in the pot then they loan it out for mortages and loans etc etc and charge interest....that way they always have more and get more than customers have evr put in to save

Answer 3

Building Societies encourage customers to open savings accounts.  The society pays them interest on the savings.  Then they lend money to homebuyers and they charge a higher rate of interest on the loans.  Because the Building Societies are mutual companies, they are not designed to make a profit - other than covering their costs - and so they pay very low rates of tax.

Answer 4

from savers also ,that's why they pay savers interest because they lend there monies out

Answer 5

the vault