Hinckley & Rugby Building Society ended its half year with increases in mortgage applications, advances, savings and its biggest pipeline of mortgages for over 10 years.
The results to the end of May 2014, the first six months of the Society’s financial year, show mortgage advances up 16% to £50.6 million (£43.5 million a year ago).
The mortgage pipeline stood at £40.4 million on May 31, also up 16% on the previous year. Mortgage applications in the first half totalled £57.3 million, up 4.8%.
Increases were across the mortgage book’s range of products and LTVs (Loan to Values). There were double digit increases in residential mortgages below 75% LTV and up through to 90%, and in buy-to-let. There was single digit growth in the 91 to 95% residential bracket, and in further advances to borrowers’ existing mortgages.
The fastest growing market segments were residential mortgages from 76 to 80% LTV and at LTVs at or below 75%. At the end of the half year the Society’s Buy to Let book stood at £74 million, 16.6% of the total.
Hinckley & Rugby chief executive Chris White said : “We are on track to achieve significant growth in the full year and have the capacity to continue that growth into 2015.
“Providing a great customer experience is at the heart of everything we do. So to regularly score perfect recommendation scores from customer surveys is excellent, especially through periods of change such as the Mortgage Market Review. Our MMR planning and execution was successful, to the benefit of our staff, customers and brokers.”
