Record borrowing and customer satisfaction

13 April 2017 • Corporate

Record lending amounts and a new high for borrower satisfaction levels at The Cambridge show success doesn’t have to come at the cost of good customer service.

The building society’s mortgage book now stands at just over £1bn – the largest it’s been in its 167 year history.

This news comes on the back of the latest customer satisfaction survey* where 86% of borrowers rated the service they received as either excellent or very good.  This beats the previous highest rating of 85% recorded in the second quarter of 2015.

Overall 93% of customers surveyed said that their expectations were either met or exceeded and 24% said they had recently recommended The Cambridge to someone else.

2017 is shaping up to be a great year for The Cambridge which is once again nominated in the What Mortgage Awards ‘Best Regional Building Society’ category, an accolade it’s won for the previous three years.  Nominees, which are put forward by the lender’s customers, also include the Cumberland, Family, Furness, Newcastle and Nottingham building societies.

The Cambridge is also nominated in the Moneyfacts Awards for ‘Regional Lending Provider of the Year’ and ‘Best Online Mortgage Provider’.

Andy Lucas Chief Operating Officer said: “We’re delighted that our borrowers are so satisfied with the service they receive from us.  Our mortgage teams work very hard to treat our borrowers as individuals and give them the personal service they deserve.  Record lending levels would mean nothing if we started to lose the focus on how our customers are feeling about us.  These results, along with a latest award nominations, prove this isn’t the case.

“We won’t stop here. We know there are improvements we need to continue to make, particularly for our savers who we know have also suffered from a long period of declining interest rates.  We’ve recently announced the launch of several new ISA and Bond products and have plenty of other products and service improvements planned.  These will be rolled out as part of our £3m investment plan announced last year.”