It is always sad to read of Building Societies merging and therefore less competition in the market place. I hope this process, which has been going on for some years now, will not hurt savers with lower rates and mortgage rates with higher costs. As an IFA and mortgage broker in London I would like to see as much effective competition as possible. I do not want Government intervention which is adverse to British savers. The Government loans to stimulate business lending and to a lesser extent mortgage lending according to one BBC News article has reduced the number of savings accounts and has depressed the rates offered by Banks and Building Societies to attract funds to lend. Until the Banking and Building Society sector can stand on its own two feet we will not be out of the woods with regards to this prolonged recession. The articles which inspired this blog entry are: http://www.bbc.co.uk/news/business-20709625 & http://www.bbc.co.uk/news/business-20695704 This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.