Hinckley & Rugby reveal £30m pipeline
The society also revealed that in the first quarter of its financial year mortgage applications stood at £24.6m compared to £21.6m in the same quarter a year before.
The AGM heard how Hinckley & Rugby increased its mortgage lending by more than 14% in the 12 months to November 30 2012 and has set a target of a further 36% rise in 2013.
Chief executive Chris White said: “2013 has got off to a promising start with more savings money coming in and more mortgage applications for us to lend money to homebuyers and landlords.
“All the signs are encouraging.”
In terms of expenses the society’s’ administrative expenses rose slightly to £4.61m as 2012 saw the redesign of the society’s brand and the refurbishment and rebranding of three of the society’s ten branches.