Ipswich ups mortgage lending by a third

Ryan Bembridge

February 22, 2018

Ipswich Building Society increased its gross mortgage lending by a third (32.5%) to £159m in 2017, up from £120m in 2016.

Correspondingly it increased pre-tax profit by 19.23% to £3.1m in 2017, up from £2.6m in 2016.

Alan Harris, chairman at Ipswich Building Society, said: “Against a backdrop of change in the UK’s financial sector we maintained a strong and consistent level of performance in 2017.

“Our model remains simple – to provide a safe home for savers and to use these funds to provide low risk mortgages to UK borrowers – and we are pleased to reaffirm our commitment to our branch network which is enabling this to happen with a high level of personal service.”

The society now holds £521m of mortgage assets.

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