Market Harborough Building Society has reported a pre-tax profit of £3.4m for 2024.
The specialist lender increased its total assets to £863m and saw its mortgage book grow by £66m.
Over the past three years, its mortgage book has grown by 45% in total.
BRIDGING PERFORMANCE
The mutual reported bridging finance growth of over 81% for 2024, with 52% more bridging brokers in 2024. During 2024, Market Harborough improved its bridging finance offering by simplifying rates, introducing products up to £5m and extending its maximum LTV of 70% to all applicants.
Iain Kirkpatrick (pictured), CEO of Market Harborough, said: “Our commitment to helping borrowers with complex needs remains as strong as ever. We’ve stayed true to our promises, made decisions based on what was right for brokers and their clients, and are proud to have delivered another record-breaking year, helping more brokers than ever before. Our award-winning performance in the short-term bridging loan sector has been particularly robust.
“To meet the growing demand for an experienced, trusted specialist lender, we’ve expanded our team to reach more brokers and provide even more support to our existing partners. Our recently launched Broker Promise reflects our dedication to being the best for brokers, ensuring they receive the highest level of service and support.
“Our brokers have expressed high levels of satisfaction with our services, and we’re proud to have been awarded the Feefo Platinum Trusted Service Award for the second year in a row. Additionally, we are proud to be a signatory to the Mortgage Industry Mental Health Charter, underscoring our commitment to promoting mental well-being within the industry.”
To build on its 2024 growth, Market Harborough recently announced the formation of its Lending Advisory Panel. The panel is designed to boost its lending business through new propositions, distribution strategies, and process transformations, with Danny Belton the first to join.
The Market Harborough also reported strong growth in its savings, with total savings balances growing by £152m.
