Mortgage applications up at Hinckley & Rugby
Leicestershire building society Hinckley & Rugby has received applications for more than £40m of mortgages in the first half of its 2010/11 financial year - more than the company chalked up in the entire previous year.
In its latest half-year trading update, Hinckley & Rugby said applications from the start of December to the end of May totalled more than £40m– three times the £13m it gained in the first half of 2009-10.
The building society now said it is on track to achieve a full year mortgage application total of £90m.
Chris White, chief executive, said: "We are going to blow last year’s mortgage figures out of the water. We first started to see a growing interest in our mortgages towards the end of last year and that has grown and grown in 2011 to date."
Arrears figures were also kept to a minimum, totalling £27,000 from a mortgage book worth £420m.
White said: "That is a great figure when compared to others in the mortgage industry. Not one of our buy to let customers is in arrears, neither are any of the residential loans that we have made over the last few years."
