Dudley Building Society has reported continued growth in both lending and customer assets, with its gross mortgage lending increasing by 19% over the past two years.
The West Midlands mutual said mortgage balances grew to £517 million by the end of its 2024/25 financial year, an 8.4% year-on-year increase from £477 million, as it continues to build on its specialist lending proposition.
Gross mortgage lending rose by £14 million over the year to £124 million, as the society continued to support borrowers in niche segments including buy-to-let, holiday lets, self-build, expat and retirement mortgages.
The annual figures bring the total increase in the society’s mortgage book since 2023 to nearly one-fifth.
SAVINGS GROWTH
Alongside mortgage growth, Dudley also reported a 22% rise in savings balances over the past two years, contributing to a new record in total assets, which now stand at £625 million.
Robert Oliver (pictured), distribution director at Dudley Building Society, said the society’s strong relationships with intermediaries have been central to its growth.
“Our intermediary relationships underpin the overall success of the Society, and we are investing in technology in 2025 to make it easier for them to do business with us,” he said.
“Our Mortgage Origination (MO) initiative will help us use technology to identify and screen application documents. This will streamline the application process, making it faster, easier and more efficient for intermediaries and their customers.
“This year we’re also planning to launch some exciting new mortgage products. We’re already well-known in the market for what we do but we want to go further, particularly helping people who find it difficult to access finance through mainstream providers.”
Customer satisfaction with the mutual remains high. According to the March 2025 Customer Insight Report by Smart Money People, Dudley achieved a 4.94 out of 5 rating from both mortgage and savings customers, with 99.4% of members saying they are treated fairly and that the society’s products meet their needs.
The customer net promoter score rose to 95, up from 93.9 the previous year, while the society’s broker NPS reached 40.3 – 4.4 points above the market average of 35.9.
The society also bolstered its commitment to local communities during the year, donating £30,000 to local causes. In July, it became the first UK regional building society to receive B Corp certification, underlining its social and environmental commitments.
It was also named Best Small Lender of the Year at the 2024 Legal & General Mortgage Club Awards.
