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Mansfield BS completes record lending month

by: Karin Wasteson
  • 17/08/2017
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Mansfield BS completes record lending month
Mansfield Building Society recorded its highest ever month of completions in June, completing £11.2m of mortgages in the month.

The building society saw new business applications value of £83m in the first half of the year, with £14.7m made in March and £20.9m in May.

Mansfield BS did not confirm its gross mortgage lending total for the half year, but said overall mortgage assets increased by 3.7% to £268m in the first half of 2017.

The lender credited this to its strategy of focusing on the intermediary mortgage market, as well as underserved segments of the mortgage market, and it said it had also “been busy strengthening ties with a number of key networks and mortgage clubs.”

“In the current mortgage market, more and more brokers are telling us how highly they value a lender that takes a common sense view of their clients’ circumstances,” said chief executive Gev Lynott.

“We’re keen to maintain this approach whilst at the same time enhancing our service in areas that really matter to our brokers,” he added.

The first half of the year also saw the society launch its Versatility brand, providing greater access to niche products, as well as its self-build Accelerator mortgage product, which enables advance stage payments.

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