www . simplybizmortgages . co . uk 33
For customers and brokers we are focused on improving customer journeys . We are investing in new systems to leverage technology to drive speed and productivity for our intermediary network . We continue to be a community building society where we play a crucial role in the development of the region that we operate in . We are committed to our branch network and looking to expand in the Black Country .
We want to let people know we are here to stay by maintaining our branch network . We are exploring further branch openings . We have launched a study looking to work out where people live and work and what areas across the Black Country would welcome a new branch
James Paterson , Chief Executive , Dudley Building Society
We also want to be part of the global movement of organisations using business for good , addressing our carbon footprint and all aspects of our environmental impact . We will have a high-performance culture predicated on excellent outcomes for customers , intermediaries , employees , our communities , and the climate .
Flexible approach to products
We take a personalised approach to mortgage lending . Unlike larger institutions that often rely heavily on automated systems , our underwriters assess mortgage applications on a case-by-case basis . This is particularly valuable for individuals with unique circumstances , such as the self-employed or those with non-standard sources of income . For these individuals , obtaining a mortgage from larger institutions might be challenging . Our broker and intermediary network value our willingness to consider individual circumstances ensures that these individuals have access to homeownership .
We are proud of our ability to support our broker customers by taking on more complex for their clients . We ’ re seeing a big growth in mortgage lending , and we ’ re working hard to improve systems and improve our broker customer journey to speed up processes
Rob Oliver , Distribution Director , Dudley Building Society
About us
Dudley Building Society was founded in 1858 and is a prime example of a regional society that embraces this personalised approach to serving its members and customers . The history and role of regional building societies in the UK are a testament to the enduring power of community-oriented financial institutions .
www . dudleybuildingsociety . co . uk
Legislative Development of Building Societies :
Building Societies Act 1836 – provided the first legal framework for the operation and regulation of building societies in the UK .
Building Societies Act 1874 – introduced more comprehensive regulations for building societies and aimed to protect members and ensure the stability of building societies .
Building Societies Act 1894 – provided further amendments to the regulations governing building societies including the distribution of profits and the appointment of auditors .
Building Societies Act 1924 – aimed to strengthen the financial stability of societies by requiring that a minimum portion of funds be held as liquid assets .
Building Societies Act 1939 – introduced measures to safeguard societies during the challenging economic conditions of the war .
Building Societies Act 1960 – modernised the regulation of building societies and facilitated their growth .
Building Societies Act 1986 – further deregulated building societies and allowed them to compete more freely with banks . It enabled them to convert into banks or demutualise , leading to a wave of conversions in the 1990s .
Building Societies Act 1997 – in response to concerns about conversions and the mutual sector ’ s future , this act introduced additional protection for member ’ s rights during the conversion process .
Financial Services and Markets Act 2000 – this legislation replaced previous regulatory frameworks and established the Financial Services Authority ( FSA ), later succeeded by the Financial Conduct Authority ( FCA ) and the Prudential Regulation Authority ( PRA ). Building societies fell under the regulation of these authorities , ensuring compliance with financial regulations and consumer protection .