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The Mansfield celebrates a record month

Posted onPosted on 10th Apr

Staff at Mansfield Building Society are celebrating a bumper month with new mortgage applications exceeding £14m in March and a booming mortgage pipeline of new business at an all-time high of over £33million.

The society also equalled its highest ever month of mortgage completions, with total advances exceeding £8.1m in March.

Chief executive Gev Lynott said that he was delighted with Society’s performance,

“Mortgage growth is essential for all of our members, as the income we generate from mortgages enables us to maintain competitive savings rates,” he said.

“While interest rates in the market remain low, our continued financial success, combined with our mutual heritage, enables us to keep our savings rates higher for longer, especially when compared to some of our plc competitors. In fact, recent research undertaken by Savings Champion supports our belief that building societies tend to sustain higher interest rates for savers than the main banks.

“The society’s success is down to our staff and the ‘human approach’ we have to doing business. At The Mansfield, we don’t rely on automated credit scoring systems to accept or reject mortgage applications, it is our mortgage experts that assess each case on its own merits.

“Our individual approach to lending is our key strength and is valued by mortgage brokers and borrowers who truly appreciate our personalised service.

“It’s great to see the Society doing so well as we enter the main house buying season – it demonstrates that we’re responding well to the needs of home buyers, and those borrowers simply looking for a new deal.

“Whilst the market can change quickly, I feel confident that with the dedication of our friendly hard-working staff, we are well placed to deliver further growth, whatever challenges lie ahead.”

Members and guests are welcome to attend the revamped format of The Mansfield Building Society’s 147th Annual General Meeting, hosted in the Auditorium at Mansfield Library on Tuesday, 25th April at 4pm.