Kent Reliance named fastest growing society

For the third consecutive year Kent Reliance has been the fastest growing building society in the UK, revealed by the authoritative annual Financial Services Report prepared by leading auditors KPMG.

The Kent-based started its process of rejuvenation five years ago and has grown by more than 200% with assets now exceeding 1.25bn.

At the same time the Society has one of the fastest reducing cost bases and now has one of the lowest management expense ratios in the industry.

Kent Reliance has achieved record growth through a series of innovative measures, which have set it apart from the rest of the building society industry, re-engineering the business, outsourcing to both UK and overseas partners and investing in state of the art IT.

Mike Lazenby, chief executive of Kent Reliance, says: “As a mutual we are committed to giving our members the best possible rates on both mortgages and savings and we do this by passing on the benefits of our efficiency gains to members though superior pricing.

“Consistently featuring in best buy tables for mortgages, ISAs and bonds, we believe that our proposition is unusually member focussed”.

The Society has also won a number of national awards again this year, most recently for the childrens Wishmaker account.