The Hinckley & Rugby Building Society has reported a rise in advances of 34% to £172 million, from £128 million in the previous 12 months.
Applications saw a 46% rise to £190 million in the 12 months to the end of November, the Society’s financial year. The 2015 total was £130 million.
The increased lending saw the mutual’s mortgage book grow by £65 million. The corresponding rise a year before was £21 million.
The pipeline of future lending is also stronger than a year ago, with commitment to lend another £56 million – higher than a year ago when it was £37 million.
Meanwhile, the 2016 retention rate of over 70% is one of the best ever achieved at Hinckley & Rugby.
Chief executive Chris White (pictured) said: “We set our staff a real challenge 12 months ago, to significantly build on our already substantial progress since the credit crunch. They have beaten what were very demanding targets and deserve huge credit.
“Retaining very close to three out of every four customers is a great testament not only to the attractiveness of our mortgage products but also how we give our customers an outstanding service from a traditional building society dedicated to our members.”
