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 including

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.

Savings Accounts- 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)

Assets £273.5 million (£277.9 million)

Executive Directors Pay £372,000 (£329,000)

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.

loughborough building society.