The Mansfield Building Society made £70m of mortgage completions in 2015.
The Mansfield Building Society made £70m of mortgage completions in 2015.
This represented a 34% increase on the 2014 total of £52.1m.
In the first half of the year alone the society upped its new mortgage lending by 49%.
Gev Lynott, chief executive, said: “We’re delighted with the completions growth achieved in 2015 as it shows that our strategy of focusing on common-sense underwriting provided by friendly and helpful staff is being well received.
“Whilst automated credit scoring systems may enable some lenders to cut their operating costs, lenders like The Mansfield recognise that in the real world, this kind of strategy has alienated some perfectly responsible homeowners, prospective buyers and property investors that don’t conform to this tick-box mentality.”
In 2015 the society changed its criteria to promote access to interest-only (including downsizing as a repayment strategy) and increase geographical coverage for shared ownership.
The Mansfield also invested in its underwriting, mortgage processing and intermediary support teams and updated its online mortgage system for brokers.
Lynott added: “Rather than rest on our laurels, we’re looking forward to continued mortgage growth in 2016 and improving the service we provide for brokers and customers alike.
“With our improved capabilities, brokers and their clients should feel confident that they will receive the highest level of personal attention.”
