Following on from their best-ever results in the Society customer feedback survey last summer, Bath Building Society has announced another record year for lending in 2008.
Lending for the Society was up to £16.63 million, an increase of five per cent over 2007, despite slightly reduced levels of applications received.
Also the Society recently became the only mortgage lender based in the South West following the withdrawal of Bristol & West's mortgage range at the start of January this year, and the Society is looking forward to another successful year across the region.
The Society, formed over 100 years ago, has experienced steady growth in recent years, and despite the impact of the economic downturn, has continued to thrive, punching above its weight to compete with the larger banks and building societies, which the mortgage lending performance supports.
Head of Lending for the Society, Malcolm Graham-Jones said, "It has been another busy year for us despite the current situation facing the financial world. Bath Building Society, through taking a flexible approach to underwriting and individual assessment of each case, has continued to support it customers in a difficult housing and financial market."
"With the exception of a short period earlier in the year, the Society has continued to lend steadily as many lenders have disappeared, through offering a wide cross section of products in most market segments."
|
|
"In turn with fewer redemptions and controlled new business lending, the Society has continued to grow its net lending over 2007 by a further five per cent to achieve a new net lending record."
With mortgage redemptions down by more than 50 per cent over the year. Malcolm Graham-Jones added, "With the ability to remortgage in this market place being more difficult, and our clear strategy of supporting our customers with their borrowing requirements and competitive transfer products, this has shown that our customers value our lending service. Our current product range and the personal touch has put us in a strong position, and we're obviously pleased that many of our customers have decided to stay with us."
|
Click here for our history
