Loughborough Building Society News.
February 2012 - The Loughborough Building Society has re-entered the buy-to-let mortgage market. The maximum percentage loan
has been increased from its previous level of 70% to 75% of the property value. This deal is only available for customers
in the East Midlands in the LE, NG and DE postcodes. The product interest rate is 4.24% (APR 5.1%) and the rental income each
month must cover 130% of the monthly mortgage payment. Applicants are limited to four properties on this scheme.
Loughborough Building Society.
|Loughborough Building Society was founded in 1867, The head office
address is Loughborough Building Society, 6 High Street, Loughborough, LE11 2QB.
Branch offices can be found at the head office address and ½ Babington Lane, Derby DE1 1SU and 5 Market
Place, Long Eaton, NG10 1JL.
They offer a number of products
Mortgages- Term Discount Mortgage Maximum LTV 80%,
3 Year Discount Maximum LTV 75%, 2 year Discount Maximum LTV 80%, 3 Year Discount Maximum LTV 90% For applicants
purchasing/re-mortgaging a property in postcodes LE, DE and NG and for existing members only. Standard Variable Mortgage,
Term Discount Mortgage Maximum LTV 80%, The Loughborough Self Build
Mortgage and Buy To Let Variable Rate Mortgage.
Instant Access Account, Fifty Fifty Account an easily accessible account with a great rate for the over
50's. Loughborough Postal Account, 30 Day Notice Account, Affinity Account, Instant Access Cash ISA
and Monthly Saver Account.
Insurance-Life Insurance, home insurance and over 50s funeral insurance.
For the year ended 31/10/2010
The Financial Results for Loughborough Building Society were 2009 figures in (brackets)
Profit £688,000 (384,000)
million (£277.9 million)
Executive Directors Pay £372,000
Non Executive Directors Pay £107,000 (£115,000)
During the year the Loughborough Building Societyhad gross mortgage
lending of £24.5 million which was increase of 10.46% over the previous year although overall mortgage balances after
provision for losses fell by 3.64%. Provisions for mortgage losses was £170,000. Savers provided the society with a
net inflow of £2.76 million meaning that less than 4% of the building societies funding comes from the wholesale markets.
Management expenses as a percentage of mean total assets rose
to 0.94% from 0.86% the previous year.