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Record mortgage lending at Mansfield Building Society

Posted onPosted on 27th Apr

Mansfield Building Society has announced record new mortgage lending of £93.7m and savings balance growth of £16m in 2017 at its 148th annual meeting.

The society broke several records on its way to delivering the new mortgage lending, leading to an overall mortgage asset growth of 12.2%.

The increase in the society’s savings balances was helped by the launch of a number of Moneyfacts Best Buys together with a strategy of reserving some of its best rates for ‘local and loyal’ customers.

In 2017 the society increased support for local good causes. Its Community Support Scheme’s cumulative donations reached £150,000 since the scheme was established in 2007.

Over the past three years the society has contributed £120,000 into The Mansfield Building Society Charitable Trust Fund to provide further support to local worthwhile causes.

Its staff raised more than £7,000 for Macmillan Cancer Support and donated over 70 volunteer days to help local organisations.

Chief executive Gev Lynott (above) said the performance in 2017 demonstrated the value of The Mansfield’s mutual model.

He said: “As a mutual building society, run for the benefit of our members, I’m immensely proud to report on another successful year for The Mansfield. We’ve added to the Society’s financial strength, achieved record lending and continued to grow our savings balances.

We’re already looking to the future with confidence and, in addition to business as usual, we are planning a number of exciting projects including refreshing the Society’s brand, the refurbishment of our Sutton in Ashfield branch, and also developing our online savings proposition.

Our commercial performance combined with the investments, volunteering and fundraising in our community show how committed we are in trying to make a difference to the lives and wellbeing of individuals within our heartland area.”