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The Melton Delivers Confidence in Uncertain Times

The Melton Group has reported another robust year of results with 4.2% growth in mortgages and 3.4% growth in savings, together with healthy profitability of £1.19 million before tax for the year ended 31 December 2019. The Society’s commitment to share 5% of its profits in support of the local community means the Society donated over £64,000 to local causes in Leicestershire, Rutland and Lincolnshire last year.

Key highlights for the year ended December 2019 include:

  • £1.19m profits
  • £74m new mortgages
  • Capital reserves £40m
  • Low level of complaints maintained
  • Five industry awards
  • High Net Promoter Score of +75.5
  • Over £64,000 donated to local causes, including over £17,300 to the DRLAA

“Despite an ongoing fragile economy and uncertain political climate in 2019, the Society has performed well and remains focused on meeting the needs of its members for savings and mortgages,” said Martin Reason, Chief Executive, the Melton. “Last year we continued to invest in our people, branches and core systems to ensure we remain modern and relevant and our new subsidiary, Nexa, got off to a great start.

“Clearly 2020 is proving to be a challenging year as we endeavour to support our members during unprecedented times. Building Societies are considered an essential service and our branches have remained open to serve customers during the pandemic, albeit with reduced hours to protect the health of customers and staff. We are passionate about helping our community and believe our financial strength provides members with confidence in these uncertain times,” concluded Martin Reason.

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.

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Following the Bank of England Base Rate increases, our Standard Variable Rate is due to increase from 4.99% to 5.39% with effect from 1st June 2022.

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