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Building society breaks 167-year lending record
Cambridge Building Society hit £265m in new mortgage lending during 2016, the highest level in the lender’s 167-year history.
The building society reported a 13.5% growth in its overall mortgage book as it helped 1,850 new customers with their mortgage needs during 2016.
Andy Lucas, chief operating officer at Cambridge Building Society, said it was delighted by such a successful 2016 and felt its award-winning service was key to what it did and underpinned its success.
“Not only have we lent more than a quarter of a billion pounds in the local area, but we’ve also supported over 120 first-time buyers realise the dream of owning their own home.
“Along with a rise in the number of rented households, there doesn’t appear to be a decline in the appetite for home ownership in our region, particularly in Cambridge.
“Much has been documented about the need for more housing supply in and around the city and we expect demand to outstrip supply over the course of 2017, too.”
The lender offers a range of mortgages – including buy-to-let – to support homeowners in the East of England.
Tracy Simpson, head of lending at Cambridge Building Society, pointed out that it had conducted more mortgage interviews over the phone than in previous years and expected to see that trend continue.
“We pride ourselves on offering choice to our customers and throughout the year our teams have been very busy helping customers who have chosen a Cambridge mortgage via their local intermediary as well as coming to us direct.
“Our mortgage advisers have a wealth of knowledge and expertise to draw upon and we’re seeing increasing demand for advice and guidance outside the usual 9am-5pm working hours.”
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