Building Societies Association comments on the Installation of new Prime Minister in context of mortgage/savings market
Commenting on Theresa May becoming Prime Minister, Robin Fieth Chief Executive of the Building Societies Association (BSA) said:
“The appointment of Theresa May as Prime Minister and her rapid action in recruiting her key cabinet team are important events which provide much needed reassurance, stability and certainty following the EU Referendum. As one of the longest serving Home Secretaries, she brings to her new role a resilience of character; common sense approach and history as a tough negotiator which will serve us well. The markets have reacted positively to the installation of a strong leader who provides a more assured outlook for consumers, businesses and the wider economy.
“As UK domestic customer-owned businesses, without external shareholders, building societies are able to remain focused on their principal purpose of providing a home for people's savings and funding for people's homes. With 25 million members, the building societies are the UK’s largest membership network and despite the economic and political bumps of the last few weeks we are and will remain open for business as usual. Looking forward we will continue to support the government’s ambition to increase housing supply, grow home ownership and enhance consumer resilience through their savings.”
