Despite the challenges of the Covid-19 pandemic, we have reported another set of strong results for the year ending 2020.
At the Tipton, we achieved mortgage book growth of 7.2% with gross mortgage lending of over £77 million during the year, and savers increased their investments by over £7 million. Profit before tax was £1.1 million, and total assets increased to a record £417 million.
During the year, we became the first Building Society to launch a mobile app that enables new customers and existing members to open, view and manage savings accounts on the go, whilst mortgage customers can view their balance too. We also received mortgage applications totalling over £150 million for the year.
Richard Newton, our chief executive, said: “the Board is immensely proud of and thankful to our staff for the way they have risen to the challenges of the pandemic. Our staff are the vital ingredient in our continuing success and our 2020 results are testament to this.
The Society has entered 2021 with a strong pipeline of new mortgage business all of which has been underwritten by our own qualified and experienced team. Customers benefit from our approach as we consider their individual circumstances from the outset rather than using automated credit scoring.”
For further information about the Society’s range of mortgage and savings products, please visit our website at www.thetipton.co.uk. Alternatively, call us on 0121 557 2551 open Monday to Friday 9am to 5pm and between 9am and 12pm on Saturdays.