Hinckley & Rugby ups lending by 27%

Ryan Bembridge

July 11, 2017

Hinckley & Rugby Building Society advanced £94m of mortgage loans in the first half of 2017 – an increase of 27% from H1 2016’s total of £74m.

The society grew its mortgage book by £38m in the first half of the year funded by net retail savings deposits of £25m.

Chris White, chief executive of Hinckley & Rugby, said: “Thanks to our dedicated staff the Society is on target to achieve the big milestones set out in our business plan for 2017.

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“We have focused on paying our savers very competitive rates, attracting increased deposits from both existing and new customers.”

At the end of May the pipeline of mortgage applications stood at £65m, a fifth of which were for buy-to-let mortgages.

At the same point in 2016 the pipeline was £59m.

There are no mortgages in arrears by more than six months.

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