Home loan book grows 45% over three years
Market Harborough Building Society, a specialist in complex cases and bridging finance, has posted strong financial results for 2024, with a pre-tax profit of £3.4 million.
The mutual’s total assets increased to £863 million, driven by mortgage book growth of £66 million. Over the past three years, its mortgage book has grown by 45%.
Bridging finance was a key contributor, with lending in this area rising by more than 81%, supporting 52% more bridging brokers in 2024. The society enhanced its bridging finance offerings last year by simplifying rates, introducing products up to £5 million, and extending its maximum loan-to-value (LTV) ratio of 70% to all applicants.
“Our commitment to helping borrowers with complex needs remains as strong as ever,” said Iain Kirkpatrick (pictured), chief executive of Market Harborough Building Society. “We’ve stayed true to our promises, made decisions based on what was right for brokers and their clients, and are proud to have delivered another record-breaking year, helping more brokers than ever before. Our performance in the short-term bridging loan sector has been particularly robust.”
To meet growing demand, Market Harborough also expanded its team to strengthen support for brokers and introduced its “Broker Promise” to emphasise service and reliability. Broker satisfaction levels remained high, with the mutual earning the Feefo Platinum Trusted Service Award for the second consecutive year. It also reaffirmed its commitment to mental health in the industry by signing the Mortgage Industry Mental Health Charter.
Market Harborough attributed its growth to a focus on specialist lending in niche markets and ongoing service enhancements. To build on this momentum, the society announced the creation of its Lending Advisory Panel, aimed at driving innovation in lending, distribution, and process improvements. Industry veteran Danny Belton was the first appointee to the panel.
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