Good start to year at society

HINCKLEY and Rugby Building Society has recorded a bumper first half of its current financial year with mortgage applications and savings growth on target.

To the end of May home-owner loans topped more than £100 million, of net mortgage applications in the first half of its current financial year.

In the six months to the end of May 2017 there was £103 million of applications and £94 million was advanced, including £20 million to first-time buyers. The full year target for net applications is £200m.

Asset growth during the six months was 8.1%, towards a full-year target of 13.6% per cent which itself looks likely to be exceeded.

At the end of May the pipeline of mortgage applications stood at £65 million, a fifth of which were for buy-tolet mortgages. At the same point in 2016 the pipeline was £59 million. There are no mortgages in arrears by more than six months.