Coventry Building Society grows mortgage assets by £3bn

Michael Lloyd

February 23, 2018

Coventry Building Society grew its mortgage assets by £3bn to £35.9bn in 2017, a 9% increase.

The 9% increase is nearly three times faster than growth in the market as a whole.

Coventry’s annual results also show that profits increased by 2% to £243m.

Mark Parsons, Coventry chief executive, said: “2017 was another strong year for the Society, with our mortgage assets growing by nearly three times the market.

“Just as importantly we’ve grown in the right way, focusing on the needs of intermediaries and their clients.

“We have delivered on our promise to recognise the work intermediaries do by introducing procuration fees for product transfers, and the developments we’ve made to our buy-to-let proposition have consolidated our position as a leading lender in this sector.

“The mortgage market is very competitive and we will work hard to maintain our performance as client and broker expectations rise. We are investing in our intermediary partnerships and the services we provide to do exactly that.”

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