Monmouthshire Building Society report increase in gross lending

The Monmouthshire BS continues to grow from strength to strength, reporting that gross lending for the financial year ending 30 April 2014 is £157m, an increase of 7.5% from the previous year at £146m. Pre-tax profits were also up, some 27% from £41m to £5.2m and the mutual also reported a 10.3% increase in total assets.

The Monmouthshire are a regional lender with strong products in both the commercial and residential sectors. The lender also has tailored solutions for Holiday Homes, Student Accommodation where a parent is buying a property for their sibling to reside in and rent remaining rooms to other students and furthermore, they have excellent HMO mortgage products.

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Virgin Money success continues

Virgin Money acquired Northern Rock from the Government in January 2012 at an initial cost of £747m. A further £73m was paid in June 2013 and it is rumoured that the final payment of £154.5m will soon be paid. Industry press and Sky News also report that Virgin Money is moving towards floating on the London Stock Exchange with a listing that would value the company at £2bn.

This, along with Virgins announcement that it will be creating 200 new jobs is strong testament to the positive growth not only within Virgin, but also with the housing market and lending arena at large.

Virgin Money

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