Strong Q4 boosts building society 2018 performance

by Aaron Strutt

Feb 06 2019

There are more fixed rate residential mortgage products available now than at any other time since data started being recorded in 2007. This is according to the latest Moneyfacts UK Mortgage Trends Treasury Report.

Trinity’s brokers regularly use the smaller building societies to get tricky cases agreed because of their often manual and personalised approach to underwriting. They typically provide mortgages for older borrowers, those seeking income stretches, or funding to buy non-standard or unusual properties.

Building societies performed strongly in the final quarter of 2018, adding to a robust performance for the year as a whole which was delivered despite challenging market conditions. Mortgage product innovation remains a strength for the sector, together with the more personalised approach to mortgage underwriting.

Building societies are managing 23% of all outstanding mortgage balances at £322.3 billion - up from £298.7 billion at the end of 2017.
 
Source: BSA

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