Monmouthshire gross lending up 7.5%

Monmouthshire Building Society

Monmouthshire Building Society has reported a 7.5 per cent rise in gross mortgage lending for the financial year to the end of April.

In its annual report, published last week, the mutual reports gross lending of £157m, up from £146m advanced in the previous year.

Pre-tax profits were £5.2m, up 27 per cent from £4.1m a year earlier, while total assets grew 10.3 per cent to £976m, up from £885m in 2013.

There was a net inflow of retail savings of £54.6m compared with last year’s £52.7m.

Monmouthshire BS chief executive Andrew Lewis says:  “The strength of our overall net lending reflects the society’s continued focus on the provision of affordable finance and prudent mortgage lending.”