The Tipton records highest ever annual lending total
Tipton & Coseley Building Society has announced record annual mortgage lending figures for 2018 of £84m, an increase of over 45% on the previous year.
The Tipton invested significantly in its business development capability in 2018 to support broker and direct customer sales. In May 2018, the Tipton appointed Cammy Amaira as its Director of Sales and Marketing. This was followed by the appointment of Paul Sawford as Business Development Manager (BDM) for the London and South East England region. Other BDM appointments are planned for 2019.
Richard Newton, Chief Executive, said:
“Our 2018 lending results demonstrate our strategy of developing new products alongside investment in our people has delivered and are a testament to the hard work and dedication of our whole team here at the Tipton.
“We are focused on enabling people to own their home at all stages of life and during 2018 our increase in lending has been supported by us launching new mortgage products which have been designed to meet the needs of customers at different stages of their life. This includes a 100% mortgage product for first-time buyers, with family assistance, as well as mortgages for the self-employed and for those customers who are retired. We were the first Building Society to offer a Retirement Interest Only (RIO) mortgage throughout England and Wales and we now lend on retirement properties too.
The Society has also launched a mortgage for holiday homes which allows short-term letting via Airbnb. With this mortgage the Tipton were one of the first lenders to allow Airbnb letting on a residential property for an unlimited number of days per year.