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building society |
A financial institution previously registered in terms of the Building Societies Act 24 of 1965. Building societies used to be the main source of finance for home loans. All but two building societies were later converted to banks. The Building Societies Act was finally repealed in 1993. The remaining two building societies were then converted into mutual banks. The term 'building society' is still used in practice, but as building societies don't exist any more, the term generally refers to any financial institution that can be approached for home loan finance. Would you like to add another definition for "building society" to the Real Estate Dictionary? Terms that closely resemble "building_society":building society - A financial institution previously registered in terms of the Building So...0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
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