Alun Jones, CEO of Swansea Building Society
The CEO of Swansea Building Society has hailed the success of the society’s Carmarthen branch as it reaches £31 million in mortgage assets.
The success of the small-town branch has been attributed to its personal, face-to-face approach to mortgage lending.
The Carmarthen branch has reported an increase in mortgage lending for holiday homes and small holdings in the region, resulting in a rise in the branch’s total mortgage assets to £31 million as of 30 June 2017.
Alun Williams, CEO of Swansea Building Society, said that the Society is cultivating its own niche in the mortgage market by tailoring its lending to the needs of the local community.
According to Mr Williams, many of the main financial institutions see holiday home mortgage lending as being ‘outside of the box’ and do not provide a straightforward mortgage option for these properties.
Alun commented saying: “This positive result from Sioned Jones and her team in Carmarthen is proof that customers still desire and value face-to-face contact and a personal service for many of their large and more complex financial transactions.
“The way in which we assess mortgages and manage customers is appreciated in West Wales, and the fact that the majority of the staff in our Carmarthen branch are fluent Welsh speakers is also very important to this community.
“Our new Pembrokeshire-based business development manager, Jade Francis, has also assisted in this growth. Being from Pembrokeshire, Jade has helped extend our presence in West Wales and provides an outstanding personal service to the community.
“The support from the professional community in West Wales has also made an important contribution to this growth in mortgage assets.”
Swansea Building Society’s Carmarthen branch opened on 31 October 2015.
The branch made an operating profit in its first full year during 2016, performing much better than anticipated, with savers depositing more than £27 million of new savings.
Nearly £22 million of this money has been lent to borrowers in West Wales in the form of mortgages.
Swansea Building Society recently announced the purchase of premises in Cowbridge, extending its reach to the South East Wales region.
The Cowbridge branch will be the fourth branch of Swansea Building Society, with its other branches based in Swansea, Mumbles and Carmarthen.