Dudley BS studies 58% rise in new mortgage lending – Mortgage Technique

Dudley Constructing Society has reported 58% improve in new mortgage lending following a yr of development throughout the enterprise.

Mortgage lending earlier than repayments totalled £112.3m in 2022/23 – the society’s second highest yr ever when it comes to gross lending.

General, complete mortgages grew 6%, whereas financial savings balances reached £453m.

The society says it recorded income of £2.7m earlier than tax, with file capital assets of £30.5m.

Dudley Constructing Society’s distribution director Robert Oliver says: “Since becoming a member of the society in November of final yr, I’ve made it my precedence to supply a superb expertise for our middleman companions.

“The final yr wasn’t with out its challenges, as financial uncertainty has had its affect throughout the market.

“Nonetheless, our high priorities have remained the identical, that are to keep up a aggressive vary of merchandise throughout our specialist lending areas and sustaining immediate turnaround occasions for functions.”

Oliver says that the society has additionally targeted on’ enhancing the general expertise by means of DIP to completion’.

“We have now a superb workforce of devoted and skilled people, who present the private contact and human, widespread sense strategy to underwriting that takes the complexity out of complicated mortgage functions,” he provides.

The society was established in 1858 and specialises in expat, buy-to-let, vacation let, self-build and in and into retirement lending.

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