Mortgages  

Hinckley & Rugby mortgage applications rise 46%

Hinckley & Rugby mortgage applications rise 46%

Hinckley & Rugby saw the number of mortgage applications rise by almost a half over the past year.

In the 12 months to the end of November, mortgage applications hit £190m from the £130m posted at the same point last year, according to the society’s full-year results.

The firm’s mortgage business was also up by more than a third, with advances reaching £172m, from £128m in the previous year.

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Chris White, chief executive of Hinckley & Rugby, said: “We set our staff a real challenge 12 months ago, to significantly build on our already substantial progress since the credit crunch.” 

He said the company has beaten their “demanding” targets.

The society now has a commitment to lend another £56m, higher than a year ago when it was £37m.

It also retained over 70 per cent of its customers who come to the end of fixed rate, discount and other initial periods of mortgages.

Mr White said this was the best retention rate Hinckley & Rugby has ever achieved, adding it was “great testament” to its mortgage products.