Building societies 'provide high-quality service'

In comparison with banks, building societies provide "far higher levels of service" to their members, it has been claimed.

Neil Johnson, PR and policy manager at the Building Societies Association (BSA), explained that the institutions excel at meeting their customers'' needs.

This is because they are collectively owned by their members, he remarked, adding that "what''s really important is what they bring to the marketplace".

"Their whole purpose is to make sure that they give their members a good level of service and a competitive product," Mr Johnson said.

He added that building societies "are always towards the top" of the table regarding the best savings products and mortgages available, a fact which is causing people to return to membership "in increasing numbers".

Moneyfacts research from October found that 70 per cent of the top 250 mortgages on offer were from building societies.

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