Hinckley & Rugby mortgage applications top £100m in H1

Hinckley & Rugby Building Society received £103m of net mortgage applications in H1, ahead of a full year target of £200m.

Related topics:  Mortgages
Rozi Jones
11th July 2017
hinckley rugby bs building society H&R

£94m was advanced, including £20m to first time buyers.

At the end of May the pipeline of mortgage applications stood at £65m, up from £59m in 2016, a fifth of which were for buy-to-let mortgages.

Growth in the Society’s mortgage book in the first half of £38m was funded by net retail savings receipts of £25m, with the balance coming from long term Bank of England funding facilities.

Asset growth during the six months was 8.1%, towards a full-year target of 13.6%. That growth is now forecast to be 16.1% by the end of the financial year on November 30 2017.

Hinckley & Rugby chief executive Chris White 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.”

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