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Hinckley and Rugby sees strong H1 results

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  • 12/08/2015
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Hinckley and Rugby sees strong H1 results
Hinckley and Rugby’s gross mortgage lending for the six months to 31 May rose by 17% compared to the same period last year from £50.6m to £59.2m, its half one results revealed.

Mortgage applications rose by 22% in the first half of its financial year valued at £70m compared to £57.3m in the previous year.

The society’s mortgage book grew by £12.3m while its pipeline rose by £10.9m, The pipeline was £45m at the end of May compared to £40.4m a year before.

Hinckley and Rugby retained 66% of its mortgage customers following the end of their product term. It reported one mortgage had fallen into arrears in excess of six months and no properties had been possessed.

Hinckley and Rugby’s chief executive Chris White said the results were ‘very encouraging’ and put the society on track to achieve significant growth in the full year.

“That the figures are so good during a period of extremely competitive conditions in the mortgage market proves customers and brokers value our approach, our decision making and our commitment to great service. Our staff deserve great credit for their hard work,” added White.

Hinckley and Rugby’s H1 reporting period runs from the end of November.

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