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Advances up over 68% at Hinckley & Rugby BS

Mortgage advances rose more than 68 per cent at Hinckley & Rugby Building Society year-on-year to the end of May 2012.

Advances were £46.2m in the six months from December to May, up 68.6% on the £27.4m advanced in the same period a year before.

The society predicts total mortgage advances of £92.4m, based on the total advanced in the first half of the year, up on the previous year’s £76.8m.

Its total mortgage book is now £433m and it is targeting 4% growth to £440m by the end of the year.

Chris White, chief executive of Hinkley & Rugby, says: “While the low base rate continues to constrain the room for manoeuvre for all building societies, Hinckley & Rugby is performing well as we step up the gears of more lending. Our customers, new and existing, remain highly satisfied with our commitment to exceptional service.”


Shapps accused of false claims on housing data

Shadow housing minister Jack Dromey has entered into a war of words with housing minister Grant Shapps, accusing him of making false claims about the state of the UK housing market. He has accused Shapps of misrepresentation and misuse of official housing and homelessness data. Dromey has lodged a complaint against Shapps with the UK […]

Lenders need service culture says CML chair

Martijn Van der Heijden, chairman of the Council of Mortgage Lenders, has told lenders they need to have less of a sales and more of a service culture. Speaking at the CML annual lunch in London last week, Van der Heijden, who is also head of lending at HSBC, told attendees that before the credit […]


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