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The Tipton sees mortgage lending double

Mortgage Introducer

July 28, 2021

Tipton & Coseley Building Society lent £68m in mortgage advances in the first half of 2021 double that for the same period in 2020.

Saving receipts for the first half of 2021 increased to £29m compared to £2.8m for the same period in 2020 with over 1,000 new saving members joining the Society.

Of these, nearly 20% used the Society’s new mobile app which enables new and existing customers to open, view and manage savings accounts on the go.

Richard Newton (pictured), the Tipton’s chief executive, said: “The Society has recorded an exceptionally strong performance for the first half of 2021. This has partly been driven by an active housing market where we have seen large demand for our niche products including our family assist and self build mortgages.

“As we look to push on for the remainder of the year, I must record my thanks to our mortgage broker partners for their invaluable support as we continue to grow our business.

“We have also seen strong inflows of saving receipts for the first half of 2021 with the pandemic providing impetus for some customers to start saving for the first time, and with other customers saving more most likely because of lower discretionary spending.

“It is particularly pleasing to see strong interest in our new mobile app which has extended our reach to customers who prefer to transact online.”


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