Market Harborough Building Society (MHBS) has recorded strong financial results for 2022.
Its total assets grew to over £600m and the society achieved record levels of new mortgage lending (£182m).
During 2022, MHBS was the first building society in over 10 years to offer a fixed-term savings bond with an interest rate above 4.00%, they’ve regularly appeared in the best buy tables.
As a specialist lender, the Society continued to focus on helping intermediaries with complex cases, including the launch of a high net worth mortgage range.
MHBS delivered significant levels of new mortgage business with balances growing by 15% on the previous year, making homeownership a reality for many borrowers, including those with complicated circumstances.
Having a robust financial foundation has allowed MHBS to invest in technology to support members and intermediary partners.
In 2022 they launched Case Hub, an online mortgage application system for intermediaries. A new telephone system was installed and their online service was upgraded, making it easier for members to get in touch.
The Society was delighted to recently receive a feefo Gold Trusted Service Award for the second year in a row.
Iain Kirkpatrick, chief executive, said: “It has been another fantastic year for MHBS and this strong set of results reflects our commitment to doing the right thing for both our savers and borrowers.
“Most importantly, these exceptional financial results have allowed us to launch our Thrive Agenda and pledge an unprecedented amount of support to our community.
“In a unique new initiative, we recently invested £2m into six brand new homes.
“Working with a local housing association, the homes have been allocated to those most in need in our area. We have plans to support many other exciting projects over the coming months.”
He added: “This is my first year as CEO of Market Harborough Building Society and I am excited about what the future holds as we build on our commitment to helping our members, colleagues and communities to thrive. I’m looking forward to meeting many of our members at our AGM.”
