It intends to further invest in its mortgage operation
Mansfield Building Society has announced mortgage growth of 4.6% and a record profit of £2.9 million in its 2021 year-end results.
The north Nottinghamshire-based mutual lent over £87 million in new advances to borrowers attracted by its flexible and personal approach to lending, including its versatility range, which caters for more complex circumstances.
In addition to its financial success, the Society completed a £200,000 investment in the refurbishment of its head office premises, creating a modern, open plan, mortgage processing centre that brings together its sales, processing, and underwriting teams.
Paul Wheeler (pictured), chief executive at Mansfield, said the society remained focused on meeting the real-life needs of borrowers, and investment in its mortgage operation would help deliver a step change in its service proposition.
“At The Mansfield, we treat people as individuals and encourage our experienced mortgage team to consider each application on its merit rather than relying on automated credit scorecards. Feedback suggests that this is well-received by brokers and borrowers who are looking for a lender that takes a common-sense view, particularly given the recent impact of the pandemic,” Wheeler said.
“Our continued success means that we are able to invest in the business, improving our service proposition and ensuring that the society is well placed to face into any future headwinds. I’m excited about our future plans and what this means to our members, colleagues and broker partners.”
