Teachers Building Society has announced a record-breaking month for mortgage lending and savings deposits in August 2014.
The Dorset-based mutual saw the amount of mortgage lending rise by 50% year on year to £9.1m, the highest amount of lending in one month in its near-50 year history. Savings inflows, too, reached a new high last month, with over £10m being deposited by customers, a year on year increase of 30%, the result of several of the Society’s savings accounts featuring in Best Buy tables.
The success is all part of the plan at Teachers, as the mutual has a strategy for steady but strong levels of growth over the next decade.
James Bawa, chief executive of Teachers Building Society, says, “We’re delighted with our August figures as the whole team has been working hard to deliver our plan for growth, alongside the truly personal service that we have a reputation for providing. The years immediately following the credit crunch weren’t easy, but we set a course for continued strength and took a prudent approach while the waters were stormy. Now that the outlook is brightening, we’re seeing some normality return to the mortgage and savings markets and I’m very proud of this result.”
Teachers Building Society, originally founded to provide mortgages for the teaching profession, has gradually widened the availability of its mortgage products to all people in Dorset, Hampshire and Wiltshire in recent years. Continued support of affordable home ownership schemes and re-entering the mortgage intermediary market three years ago have also contributed to this success.
To find out more about the range of mortgage products available at Teachers Building Society, call the friendly team on 0800 378 669, visit the mortgage pages or ask your financial advisor.