Family Building Society posts record results

Family Building Society posts record results

Family Building Society has enjoyed a record-breaking year following improvements to its intermediary proposition.

The lender witnessed a 33 per cent increase in mortgage applications during 2017, taking gross lending to £310m – up from £267m in 2016.

As a result, Family’s market share has grown by 17 per cent.

The lender, which is part of National Counties Building Society, launched a dedicated intermediary website in December 2016, with a wide range of eligibility and affordability tools. 

It has also achieved a 20 per cent increase in underwriting capacity as a result of a number of automated process enhancements with more improvements planned for 2018.

In addition, Family has added two business development managers to its team to help cover the majority of the major population centres of the UK.

Director of business development at the Family Building Society, Keith Barber, said: "2017 has been our most successful year ever.

"It is proof, if ever proof were needed, that our investment in people, technology and communications is delivering the service and products that intermediaries need to solve their clients' real world borrowing issues. 

"The move to one brand late last year has been very well received by intermediaries and this, along with the continued improvements we make at all levels of our business in response to intermediary need, has rewarded the society with record-breaking lending."

Michelle Lawson, director at Hampshire-based Lawson Financial, said: "What the Family Building Society have done is grown with the market and reacted to what the market needs rather than what they think it wants.

"They have made it easier for first-time buyers with the parental guarantee, which is a charge on their property rather than gifting money – because not everyone has money in the bank.

"Family have jumped on the bandwagon to do limited company buy-to-let, they have a great lending portal and their BDMs are brilliant.

"They are probably one of the few lenders where you get proper, common-sense lending decisions. A lot of lenders could learn from them."