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Britannia half-year results show record lending across the group

All three lenders within the group, Britannia, Platform and the commercial lending department, delivered record first half figures.

The group says that quality of lending remains high. Just 4.4% of residential lending for the half year was at more than 90% LTV with the average mortgage LTV at just 66%. And 94% of lending is at multiples of 3.5 x salary or less, minimising the risk of bad debt.

Britannia Group chief executive Neville Richardson says: “These strong results show we are competing effectively in our target markets and can deliver good performance for our members in this low margin environment.

“Maintaining healthy profit levels and investing in service while keeping margins low and products competitively priced shows that the mutual model is working for our members.”


On the beat

However for me the entertainment value is fading and I am now getting pretty fed up with the hostilities. The nature and conduct of the debate it getting us nowhere. It is not constructive on any level. In fact to conduct the debate in public at this critical time is counterproductive. Now is the time […]

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LIME fully authorised

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Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


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