Suffolk: Record-breaking month for Ipswich Building Society’s mortgage lending
IPSWICH Building Society has announced a record-breaking month for mortgage business in March, breaking two of its lending records
The society achieved a record number of mortgage applications throughout the month, with more than �29million gross applications received, while its existing mortgage balances grew by more than �10m.
The success mirrors an upturn in the wider building societies sector with mortgage approval levels increasing by 29% since the start of the year.
Paul Winter, chief executive at Ipswich Building Society, said “To increase our mortgage balance by so much in one month is a record for the society.
“We believe our success is driven by the way in which members are treated, which is doing all the things the big lender can’t do- we treat members as individuals, not just numbers. We listen to their needs and offer them expert knowledge delivered in a friendly way.”
You may also want to watch:
More than 20% of the new applications last month were from first time buyers either buying their home through a residential purchase, or through a shared ownership scheme.
Mr Winter added: “The society is here to help people buy their homes; it is a simple proposition and one that is clearly working.
- 1 Six senior players - including Downes - will start pre-season with Under-23s
- 2 League One side showing strong interest in Ipswich youngster Lankester
- 3 Head chef frustrated after 13 'no shows'
- 4 Town show Jacobs interest but injury holds up potential deal
- 5 Man in 50s dies following crash on Suffolk border
- 6 Man dies following stabbing in Bury St Edmunds
- 7 Rubbish dumped on A14 approach road
- 8 Mike Bacon: We needed an enormous brush.... And it looks like we are getting one!
- 9 Woman who pocketed cash for memorial bench avoids prison
- 10 Ipswich to face army of familiar faces as Town draw U's in EFL Trophy
“By lending to first time buyers we are helping to keep the local property market moving which is essential to the regional economy. Suffolk has continued to thrive despite the gloomy economic outlook and we hope to help keep that momentum.”
The Ipswich offers a range of the mortgage products not only for those starting out on the property ladder, but those who wish to move, remortgage or even build their own home.
Mr Winter said: “Nobody really wants a mortgage. What they want is a home for their families; the mortgage is a means to an end. I am proud that the society is able to help more people than ever achieve their goals.”