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The Mansfield posts best mortgage completions in 2015

Posted onPosted on 9th Feb
The Mansfield posts best mortgage completions in 2015

Mansfield Building Society has posted record-breaking mortgage completions in 2015 with best-ever figures of £70 million.

The society’s strong annual results follow on from a first-half performance in which it reported new mortgage lending growth of 49%.

2015 saw the society make a number of changes to its lending criteria as well as improvements to its portfolio of Buy to Let and residential lending products.

During the year it also strengthened its underwriting, mortgage processing and broker support teams, and began a process of improving its online mortgage system for brokers.

According to chief executive Gev Lynott, the achievement was the result of a targeted approach, focusing on key underserved areas of the mortgage market together with an emphasis on improving the service it provides.

“We’re delighted with the completions growth achieved in 2015 as it shows that our strategy of focusing on common-sense underwriting provided by friendly and helpful staff is being well received,” he said.

“Whilst automated credit scoring systems may enable some lenders to cut their operating costs, lenders like The Mansfield recognise that in the real world, this kind of strategy has alienated some responsible home owners, prospective buyers and property investors that don’t conform to this tick-box mentality.

“Our individual mortgage underwriting approach allows us to fully understand a customer’s circumstances and support their housing ambition – our strategy is evidently working.

“Rather than rest on our laurels, we’re looking forward to continued mortgage growth in 2016 and improving the service we provide for customers. With our improved capabilities, borrowers choosing The Mansfield can feel confident that they will receive the highest level of personal attention.”