Society’s latest financial results

Market Harborough Building Society has this week released its financial results for the year ended December 31, 2014.

It has reported growth in capital, profit, savings and mortgage balances.

Pre-tax profits for the year rose to £2million, helping the society to enable steady growth going forward.

Chief executive Mark Robinson said: “The society is committed to its core markets and continues to invest in the future.

“We are well capitalised and can support steady, sustainable growth. We are proud to operate for our members and are committed to thriving as a modern mutual.

“In 2014 we helped many first-time buyers and older borrowers. At the same time prudent lending meant we did not repossess a single borrower in the last twelve months.”

All of its mortgages were underwritten individually and are designed to address the needs of those not readily served by the big banks.

This approach has enabled the society to increase new lending to £85m while maintaining its pricing at a level that does not dilute the value of its mortgage assets.