According to Market Harborough Building Society’s latest annual report, new mortgage lending has been growing over the past few years, going from £182m in 2022 to its current figure.
Growth in mortgage assets was pegged at 11.1%, which compares to 20% in 2023 but is up from 13.9% in 2022.
The lender noted that bridging finance lending grew by over 81% year-on-year and organic advance was up 60% annually, with 52% more bridging brokers assisted during the year.
Market Harborough Building Society reported a profit before tax of £3.5m, which compares to £4.3m in 2023.
The firm said it would continue its “focus on specialist lending in more complex niches”, which it said had been a “key driver of this growth”.
Giving brokers the winning edge
Sponsored by Rely
To build on the success, the firm recently formed a lending advisory panel that would “supercharge its lending business through innovative propositions, distribution strategies, and process transformations”.
Iain Kirkpatrick (pictured), CEO of Market Harborough Building Society, commented: “Our commitment to helping borrowers with complex needs remains as strong as ever. We’ve stayed true to our promises, made decisions based on what was right for brokers and their clients, and are proud to have delivered another record-breaking year, helping more brokers than ever before. Our award-winning performance in the short-term bridging loan sector has been particularly robust.
“To meet the growing demand for an experienced, trusted specialist lender, we’ve expanded our team to reach more brokers and provide even more support to our existing partners. Our recently launched Broker Promise reflects our dedication to being the best for brokers, ensuring they receive the highest level of service and support.
“Our brokers have expressed high levels of satisfaction with our services, and we’re proud to have been awarded the Feefo Platinum Trusted Service Award for the second year in a row. Additionally, we are proud to be a signatory to the Mortgage Industry Mental Health Charter, underscoring our commitment to promoting mental wellbeing within the industry.”
