Building Society Law Mrs. Borders did not exercise her able
advocacy in vain before Mr. Justice Bennett, in the case in which there was claim and counter-claim between her and the Bradford Third Equitable Benefit Building Society. Some of the issues raised were of considerable public interest, and have been under consideration by the Government Departments con- cerned. The Chancellor of the Exchequer has announced the Government's decision that legislation is desirable to deal with some aspects of the law relating to building societies, and that a Bill will soon be introduced. Whilst, presumably, this will regularise the position of the building societies, the house purchaser and the builder in relation to the whole question of collateral security, it should ensure that the practice is not abused. At present building societies advance up to about 8o per cent. on houses, but this leaves an amount too great to be met by the small purchaser. Collateral security is often provided by the builder, which gives the building society practically ioo per cent. safety for its advance, and dispels any doubts the purchaser may harbour as to the intrinsic value of the house. A private member's Bill (which will not presumably now go forward) provides that house purchasers should have legal redress if houses purchased through building societies prove unsatis- factory in certain agreed particulars. That is a safeguard which the forthcoming legislation should ensure.
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