BM’s half yearly mortgage assets have risen by 1.4 billion since 31 December 2001 and has announced record new lending of £2 billion in gross advances and net lending of £852 million.
Dan Watkins, managing director of Birmingham Midshires, said: “This is a fantastic performance from across the business. Our continued success is built on a solid foundation of profit, growth and customer satisfaction. Record profits, record lending, record growth and the highest customer satisfaction we have seen for some time is, in no small part, due to the exceptional teamwork of everyone here at Birmingham Midshires. As part of one of the UK’s most dynamic financial services groups, Birmingham Midshires is, without doubt, a team to be proud of.”
Intelligent Finance, the UK’s largest direct bank also released its half yearly report for the six months to June, which showed a very strong performance and builds on the growth it enjoyed in its first full year of trading.
At the half year ended 30 June, the bank had assets and liabilities in excess of £12bn with a formal offer pipeline of £1.1bn. According to the bank, these figures confirm Intelligent Finance as the largest and fastest growing UK direct bank in balance terms.
In its first 18 months Intelligent Finance has continued to deliver a record performance for a new entrant bank in the mortgage market, becoming the UK’s largest direct mortgage lender with a 10.4 per cent market share.
Gross mortgage lending now amounts to £9.6bn, up £4.2bn or 78 per cent on the 2001 position, a third of HBOS Group’s total net lending over the period. The bank has achieved 10.4 per cent of the UK net mortgage market share and an average balance of £111,000, compared to the industry average of £82,000 with an average loan to value of 71 per cent.
