Mortgage applications soar at Ipswich Building Society
14 Aug 2009
Ipswich Building Society says it is bucking the trend with an 80% rise in its mortgage applications in July compared to the month last year against a background of an overall reduction in the number of applications seen across the industry.
Also in contrast to the sector, Ipswich Building Society says it is attracting more new deposits in savings accounts. Its half year results for 2009 show an increase of 55% in positive net receipts, compared to the same period in 2008.
Paul Winter, chief executive, Ipswich Building Society, said: "The current financial climate means people will be naturally nervous and as well as competitive products, they need reassurance. Unlike most lenders, we empower our employees so they can follow through each mortgage or new account request, giving customers the confidence of dealing with just one individual, as well as having prompt and efficient service."
He added: "Throughout the last 18 months of turmoil in the financial markets, Ipswich Building Society has concentrated on lending to local people to buy their homes."Around 80 per cent of the society's customers live in East Anglia.
Source: bizeast
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