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Coventry Building Society reports gross mortgage advances of £1bn

Coventry Building Society has reported gross mortgage advances of more than £1bn in one year for the first time. The milestone figure was reached in November.


The lender says significant levels of business has been conducted through remortgages and its Privilege Rate which rewards borrower loyalty.


It says it enjoys a competitive advantage over banking competitors because it does not have to pay dividends to outside shareholders.

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