Dudley Building Society has reported 58% increase in new mortgage lending following a year of growth across the business.

Mortgage lending before repayments totalled £112.3m in 2022/23 – the society’s second highest year ever in terms of gross lending.

Overall, total mortgages grew 6%, while savings balances reached £453m.

The society says it recorded profits of £2.7m before tax, with record capital resources of £30.5m.

Dudley Building Society’s distribution director Robert Oliver says: “Since joining the society in November of last year, I’ve made it my priority to provide an excellent experience for our intermediary partners.

“The last year wasn’t without its challenges, as economic uncertainty has had its impact across the market.

“However, our top priorities have remained the same, which are to maintain a competitive range of products across our specialist lending areas and maintaining prompt turnaround times for applications.”

Oliver says that the society has also focused on’ improving the overall experience through DIP to completion’.

“We have a brilliant team of dedicated and experienced individuals, who provide the personal touch and human, common sense approach to underwriting that takes the complexity out of complex mortgage applications,” he adds.

The society was established in 1858 and specialises in expat, buy-to-let, holiday let, self-build and in and into retirement lending.