Britannia Mortgage Lending Rises 18% to £5.8bn
Increased mortgage business leads to £143m profits
19th February 2004
Building Society Britannia lent £5.8bn in mortgages during 2003, a rise of 18% over the previous year.
The increase in business led to pre-tax profits of £134m, of which £42m was redistributed back to the members of the mutual.
Britannia operate a responsible lending policy, ensuring that borrowers do not overstretch themselves when taking out a mortgage, and Chief Executive Neville Richardson called on the government to add compulsory financial education to the school curriculum to promote responsible lending and borrowing across the whole industry.
Read More: Britannia Preliminary Results
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Products from Britannia : Loans |
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More Britannia News : Britannia Buys Bristol and West, Profit Share for Britannia Members |
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