New lending up by 58%
Dudley Building Society has reported a year of growth across the business, with new mortgage lending up by 58% to £112.3 million.
Total mortgages grew by 6%, with the mutual now considered the 26th biggest building society in the UK. It also had only 47 accounts in arrears, representing 0.1% of all mortgage balances.
Dudley recorded pre-tax profits of £2.7 million, with record capital resources of £30.5 million.
Aside from financial growth, the society was also proud to announce achieving an increased customer net promoter score of 90.8, a total of £50,000 donated to local community causes, a decreased carbon footprint, and an improved employee engagement score of 77%.
“Since joining the society in November of last year, I’ve made it my priority to provide an excellent experience for our intermediary partners,” stated Robert Oliver (pictured), distribution director at the Dudley Building Society.
“The last year wasn’t without its challenges, as economic uncertainty has had its impact across the market. However, our top priorities have remained the same, which are to maintain a competitive range of products across our specialist lending areas and maintaining prompt turnaround times for applications.”
Oliver added that Dudley’s intermediary support team has continued to grow over recent months, with a focus on improving the overall experience through DIP to completion.
“We have a brilliant team of dedicated and experienced individuals, who provide the personal touch and human, common sense approach to underwriting that takes the complexity out of complex mortgage applications,” he said.
“In more recent months, we have seen a high volume of applications come through to the society, and already have a pipeline that should meet much of our lending target for the year. This progress is a testament to both the products and service that we offer.”
Established in 1858, Dudley Building Society specialises in expat, buy-to-let, holiday let, self-build, and retirement lending. The mutual also has plans to broaden its larger loan proposition.
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