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.

“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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