View more on these topics

Bath Building Society increases profits by 77%

Bath Building Society reported pre-tax profits of £2.3m in 2011, up from £1.3m in 2010.

Net lending was £4.4m, compared to £7.1m in 2010, taking the total mortgage book up by 2.4% to £183.9m, compared to £179.5m in 2010.

Dick Jenkins, chief executive of Bath Building Society,says: “The strong performance of the Society owes much to the mortgage side of our business.

“Our results show the benefits of our long term strategy to lend to those good borrowers that for one reason or another fall foul of the big lenders’ one-size-fits-all lending policies.

“We’ve also done our bit to help to first-time buyers, in response to widespread reports of customers generally finding it hard to get mortgages. We have successfully increased our mortgage book over 2011 by introducing new innovative products specifically geared to helping first-time buyers get onto the property ladder.”

Recommended

Use SVR furore to cut customers’ payments

I have a simple question. Over the past 18 months or so has there been a better time to challenge SVR clients on their mortgage status? I don’t think so.

No products on the table yet for NewBuy launch

There were fears as Mortgage Strategy was going to press last week that lenders would not be ready to offer 95% LTV deals in time for today’s launch of the government’s NewBuy Guarantee scheme. Last week none of the UK’s top six lenders could confirm that they would launch deals today. Lloyds Banking Group, Santander, […]

Marketwatch – March 2012

Mortgage rates were at the forefront of the news last week following several lenders upping not just their product pricing but also, controversially, SVRs.