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Dudley BS gross mortgage lending grows to £125.1m

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  • 18/06/2020
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Dudley BS gross mortgage lending grows to £125.1m
Dudley Building Society has increased its gross mortgage lending to £125.1m for the year ending 31 March 2020, up from last year’s £92.6m.

 

The society’s mortgage book is now valued at £436.6m, an increase from £359.6m in 2019. 

As of 31 March, Dudley had no mortgage accounts where payments were 12 months or more in arrears. 

Despite the society describing 2020 as its “most successful year to date”, its profit before tax saw a slight drop from £1.6m to £1.5m. 

Dudley’s savings balances also saw growth, increasing by £95m to £513.1m. 

This helped the society grow by 23 per cent with its balance sheet exceeding £500m for the first time, ending the year at £541.3m. 

Jeremy Wood (pictured), chief executive, said: “I am particularly proud of the progress which the society made in the financial year and especially proud of everyone in the team who helped make it happen. To be able to report record figures is every chief executive’s wish.  

However, as we announce our results in the wake of the Covid-19 pandemic, naturally our thoughts are with all those who have been affected, both physically and economically. 

“There is no doubt that 2020 will continue to serve up many challenges but I am sure Dudley Building Society will prove to be equal to them in the year to come, he added.

 

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