London, GB 19 °C

Thursday, July 18, 2019

3_2018-07-06-03-50-49pm.gif
News

Dudley Building Society reports record lending volumes

Theo Osborn | 09:00 Wednesday 26th June 2019

Dudley Building Society has reported recording lending volumes with £92.6m provided between April 2018 to March 2019.

By comparison, the building society recorded £82.2m of mortgage lending in the previous financial year.

It witnessed a £26.6m increase in savings balances, taking overall deposits to £362.2m.

Dudley recorded a pre-tax profit of more than £1.6m, with a year-end total asset base of £438.5m.

Jeremy Wood, chief executive at Dudley Building Society (pictured above), said: “I am delighted with the progress we have made in the last year with record lending and increased profitability.

“Dudley continues to grow, as can be seen by an increase in our workforce from 89 to 110.

“The society is widening its coverage and just completed its most successful Isa campaign ever.”

This comes as the building society has adopted a holistic approach to family lending, which has seen parents supporting children and vice versa.

Dudley has also improved the quality of its mortgage book with less than 0.2% of accounts more than three months in arrears from new lending since 2012.

leave a comment

Your email address will not be published.