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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.”

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