May 15 2017
The Melton Group has reported another year of progress with 8% growth in mortgages and 10% growth in savings, together with healthy profitability of £1.46 million for the year ended 31 December 2016.
The Melton Group advanced £76 million of new mortgages during the year, with loans and advances increasing by 8% to £339 million. Mortgage arrears reduced by 22% to £0.14 million reflecting the Group’s continued drive to improve credit quality. The Group’s capital and reserves increased by £1 million to £36 million in the year and the Melton remains one of the UK’s most strongly capitalised building societies.
“Our strong financial performance reflects the excellent progress we have made in delivering great value products as evidenced by our regular appearance in national best buy tables and recognition in three industry awards,” said Martin Reason, Chief Executive, the Melton. “We continue to invest in the future, developing our core systems to support operating efficiency and investing in our employees to ensure we deliver great service for all our customers. In 2017 we embark on a project to provide improved online services to retail customers.”
The Melton has branches in Grantham, Oakham and Melton Mowbray and is a mutual building society providing both branch and online services with financial products including mortgages, savings and insurance and investment solutions.
