Monmouthshire responds to soaring demand

19 March 2008

As a small local building society, the Monmouthshire’s priority is to meet the needs of local people by offering attractive products backed up with high service standards.

Recently because many of the large mortgage lenders have been restricting access to mortgages, we have experienced an unprecedented level of business from all over the UK from potential customers seeking to make use of our mortgage products.

If allowed to continue, the Society believes this will have a detrimental affect on our service standards.

Chief Executive Mr Andrew Lewis said, “To ensure we maintain our high service standards we are temporarily not accepting applications from mortgage introducers. We are still however considering applications made by local customers in person.

“We believe this will be a temporary measure but is necessary to continue to provide the high service standards which our customers expect. The message to these customers is that it is very much business as usual at the Monmouthshire.

“Meanwhile, our Building Society is enjoying a record financial year, is well managed and is financially very strong.

“Unlike some other financial institutions, we have not been adversely affected by the credit crunch because our business is primarily funded by customers’ savings deposits and not the wholesale markets.”


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