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The Mansfield reports strong progress

Posted onPosted on 4th Apr

The Mansfield Building Society has reported an 18% growth in mortgage lending to £58m as one of the highlights from its 2013 results.

The society was able to increase its lending, as a result of some notable achievements including:

Providing more low deposit mortgages for first-time buyers.
Further increasing support to prospective home buyers through the Help to Buy equity loan scheme and shared ownership mortgages.
Achieving a commended award at the 2013 Moneyfacts Awards for Best First Time Buyer Mortgage Provider.
Launching innovative new local authority guarantee mortgage schemes with Bassetlaw and Ashfield District Councils.

A major benefit from the growth in lending has been an increase in the local support the society has offered through its Community Support Scheme contributions. The Mansfield intends to further increase the available budget of the scheme in 2014 to £20,000.

According to chief executive Mr Gev Lynott, The Mansfield became more innovative in supporting the people in the region in 2013 and it increased its mortgage activity across England and Wales.

He said: “2013 saw The Mansfield grow its national mortgage lending substantially, improve mortgage access for local people, and widen our support in the community.

“Overall it has been a good year of progress as the housing market starts to show signs of a sustained recovery. As well as our range of good quality and innovative mortgage products, I am delighted by the consistently positive feedback we have received from our customers and intermediary partners concerning the excellent personal service they receive.”