SWANSEA BUILDING SOCIETY’S Cowbridge branch has achieved a record amount in mortgage balances – passing the significant milestone of £100 million.
The Society has attributed the achievement to its personal approach to mortgage lending and the implementation of a five-year plan which has included investment in infrastructure, staff and new technology.
The branch, which opened during December 2017, reached £104 million in mortgage balances and over 450 mortgage accounts at the end of May 2021 – a very impressive figure considering the branch has been in operation for less than foury ears.
Swansea Building Society’s offering of mortgages with competitive rates, and it’s personal, tailored and common‐sense approach to lending by manually underwriting and not credit scoring cases has been welcomed by those in South East Wales.
The mortgage products offered by the Society have been particularly welcomed by those who are self‐employed, professionals, high income earners, those looking to build or renovate their own home, and those looking to let properties on a short-term basis.
Whilst many cases are complex, the Society’s face‐to‐face approach to delivering services, understanding the needs of its customers, and building a strong team, have led the Society to this successful milestone.
The achievement of the Cowbridge branch has also been attributed to East Wales Area Manager/Head of Savings, Richard Miles, and his team: Martin Lewis, Business Development Manager; Lloyd Williams, Cowbridge Branch Manager; and their assistants.
Their proactive approach and strong networking within the community of South East Wales, in particular, have made a significant contribution to the branch’s rapid growth in mortgage balances by achieving a greater understanding of the needs of the community the Society serves.
Swansea Building Society’s flexible approach to lending, particularly for properties outside of the standard criteria of other lenders, is now widely known throughout Wales and the Welsh Border area and provides a solid platform for future growthat all its branches.
Richard Miles, Area Manager and Head of Savings at Swansea Building Society, said:
“We are delighted to have reached this milestone within four years of the Cowbridge branch being established. This achievement has come about thanks to a great team effort from everybody at the branch and the wider support of Swansea Building Society. It is also a tribute to the value of the Society’s personable, face‐to‐face business model, which enables us to properly understand people’s individual circumstances and develop niche products to meet their needs.
“We are overjoyed at how well the Cowbridge branch has been received, and look forward to helping even more people in South East Wales and over the border fund their dream home in the future.”
Alun Williams, Chief Executive of Swansea Building Society, added:
“This mortgage balance milestone is an incredible achievement for our Cowbridge branch, in less than four years in business. This is the culmination of our five-year plan, which has seen us invest heavily in infrastructure, staff and technology. All of the changes we have implemented recently have had one aim in common: to allow customers to communicate with us in whatever way is most convenient to them.
“I, therefore, believe the Society’s success over the past 12 months is largely due to our dedication to ensuring our customers can speak to a real person about their finances when – and where – they need to. It’s something all of us, here at Swansea Building Society, strongly believe in; it is what informs and drives our commitment to opening and not closing branches.”