Building societies 'regionalising'

Britain's building societies are increasingly reverting back to being "regional only" providers, in what is likely to cause further frustration for savers struggling to find any decent returns, a financial information website has warned.

Moneyfacts said that in recent months, smaller mutuals appear to be closing their doors on wider custom and reverting to their roots by providing savings and mortgage deals to specific postcodes or those living certain distances from branches.

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