New Mortgage Business Jumps 49% in Six Months to June 2015
We are delighted to announce a 49% increase in new mortgage lending in the six months to the end of June 2015.
In the first half of the year the Society saw £34 million of mortgage completions against £22 million written in the same period 12 months prior. The success of its new lending has helped us achieve a 4% growth in net mortgage assets at the half year.
According to Chief Executive, Gev Lynott, mortgage growth is a result of a commonsense underwriting approach, which assesses each case on its merits.
He said, “We are delighted with the figures. Whilst many lenders are using automated credit scoring systems to process applications from customers that meet their tick box criteria, The Mansfield is able to offer mortgages to a broader cross section of borrowers, including those with unusual incomes and customers wanting to borrow later in life."
Gev continued, “Our growing number of borrowing members reassures us that our fair and responsible approach to underwriting continues to meet consumer needs and market demand.
Customers have been quick to praise our staff, not only for the way in which enquiries are handled but also the pragmatic approach by the underwriting team during the application process.
Many lenders claim to be doing the same thing, but only a few, like The Mansfield, are able to deliver.”
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