Cambridge record another strong year

It provided £200m of funding to local people buying, improving or remortgaging their homes, which represents an 8.3% growth of the society’s mortgage book.

Duncan Bain, finance director at The Cambridge, said: “As a mutual business, maintaining long-term financial stability remains a key area of focus.

“By delivering a pre-tax profit of £2.5m, the Society has returned to capital replenishing levels of profitability and further strengthened its financial foundations.”

The Cambridge provided funding for over 1,200 new mortgages, while 96% of customers said the service met or exceeded their expectations.

Stephen Mitcham, chief executive at The Cambridge, said: “Our 2013 financial results show another year of managed growth and once again demonstrate our continued commitment to helping local people buy their homes.”