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Mortgage advances at Hinckley and Rugby up 34%

Chris White - Hinckley

Hinckley and Rugby Building Society advanced 34 per cent more mortgages in 2016 compared to the previous 12 months.

Advances for 2016 have totalled £172m to date, up from £128m for the previous 12 months, according to figures released by the society.

Applications were also up considerably with a 46 per cent rise to £190m in the 12 months to the end of November, the society’s financial year. The 2015 total was £130 m.

The increased lending saw the society’s mortgage book grow by £65m. The corresponding rise a year before was £21m.

Chief executive Chris White (pictured) says: “We set our staff a real challenge 12 months ago, to significantly build on our already substantial progress since the credit crunch. They have beaten what were very demanding targets and deserve huge credit.”

Hinckley and Rugby will announce the full details of its year-end results in February 2017.

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