Hinckley & Rugby reports strong start to 2017

Ryan Bembridge

March 22, 2017

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Hinckley & Rugby Building Society saw a 23% rise in mortgage applications in early 2017 compared to the same period last year.

What is more in the first quarter of 2017 mortgage advances topped £46m, 45% higher than the same quarter a year ago.

Chris White, chief executive of Hinckley & Rugby, said: “Thanks to a year of strong advances and a high level of borrower retention the society’s mortgage book has grown significantly.

IMLA predicts £260bn of mortgage lending in 2017

“We have started the new year with an even stronger momentum, thanks to blossoming relationships with key broker networks and an uncompromising approach to providing outstanding service to all our customers.”

In the 12 months to November 2016 the society upped mortgage advances by 34% year-on-year to £172m while the mortgage book grew by 14% to £540m.

At today’s 151st annual general meeting two of the society’s executive directors stood down in senior independent director Paul Parmenter and chairman of the remuneration committee Andrew Astin, who both joined in 2008.

Hinckley & Rugby chairman Colin Franklin, said: “Both are stepping down, in accordance with good corporate governance, after completing nine years on the board.

“They have served the society skilfully and diligently throughout the difficult years of the credit crisis and, on behalf of our members, I would like to thank them for their important contribution and to wish them well for the future.”

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