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1867 2017 150 Years Stamp
Proud of our history
looking forward to the future



The Loughborough Permanent Investment, Land and Building Society was founded.

On 21 June a group of worthy citizens of the town of Loughborough held a meeting at which they decided to form the Loughborough Permanent Investment, Land and Building Society, as we were known in those days. The Society was registered on 31 October with the first paying in day on 12 November. The following day £35. 3s. 6d. was banked and by the end of that first year the assets totalled £662. The Society was run out of the offices of Samuel Cattell, Coal Merchant, at 45 Baxter Gate. This location continued to be our home until 1937.


Samuel Cattell was appointed Secretary and went on to serve the Society for 44 years.


The British statesman Winston Churchill was born on November 30.


Bank of England base rate ended the year at 4%.

The Society's assets reached £8,516. 1s. 0d. The Bank of England base rate ended the year at 4%* and the average annual mortgage rate was 4.75%*.

*Source: Bank of England, Three Centuries of Data


The telephone was invented by Alexander Graham Bell who was born in Edinburgh. The patent was registered on March 7.



Thomas Edison invented the light bulb, making long lasting indoor electric lighting possible.


Leicester Tigers was founded and has gone on to become one of the most successful and well-known rugby clubs in the world.


John Taylor & Co. of Loughborough, cast ‘Great Paul’ bell.

Great Paul was cast by John Taylor & Co. of Loughborough for St Pauls Cathedral. It is the largest bell ever cast in Britain at 16.5 metric tons and was rung for the first time on 18 March 1882 in Loughborough. In May 1882 it took 11 days for a traction engine to haul it to London where it was raised 125 feet to hang in the south-west tower. Great Paul was dedicated on 3 June 1882. Churches around the world have used bells cast at Taylors.


Society reported profits of £806. 11s. 1d.

In this year the Society reported a profit of £806. 11s. 1d. The Bank of England base rate ended the year at 3%* while the average weekly wage was the equivalent of 75p* in today’s terms.

*Source: Bank of England, Three Centuries of Data


Greenwich Mean Time (GMT) became the standard by which time around the world is set.


John Pemberton created and began selling Coca Cola.

John Pemberton began selling his formula (a mixture of cocaine and caffeine) at Jacob's Pharmacy in Atlanta, Georgia, USA. It was initially sold as a patent medicine for five cents a glass at soda fountains. The now world famous drink, Coca Cola, no longer contains Cocaine but that is how it got its name.



Frank Bowden began making bicycles in Raleigh Street, Nottingham.

A man named Frank Bowden began making bicycles in Raleigh Street, Nottingham. By 1896 the Raleigh Bicycle Company had 800 employees and went on to become the largest manufacturer of bicycles in the world.


Alderman Joseph Griggs became the first Mayor of Loughborough.

Alderman Joseph Griggs, J.P., D.L., became first Mayor of Loughborough in November. Loughborough became a municipal borough in 1888 and thus, for the first time, had an efficient system of government.


Eiffel Tower opened March 31.


The population of Loughborough reached 18,196.

The population of Loughborough had reached 18,196 according to the census. The Society reported a turnover of £11,690. The Bank of England average annual base rate was 3.33%* and the average annual mortgage rate 4.50%*.

*Source: Bank of England, Three Centuries of Data


The Olympic Games of the 1st Olympiad.

The First Modern Olympic Games (The Olympic Games of the 1st Olympiad) were held in Athens, Greece. It ran from 6 April to 15 April, 241 athletes from 14 countries took part and there were 43 events in all. The original Olympics date back to 776 BC and were held at Olympia on the border of Greece and Macedonia. Only Greeks were allowed to compete



The Great Central Railway opened.

The Great Central Railway is the UK's only double track, main line heritage railway. It’s the only place in the world where full size steam engines can be seen passing each other – just as it was when steam ruled the rails. Construction of the line started in 1894 and it was opened to coal traffic on 25th July, 1898 (to bed in the line) and to passenger and goods traffic on 9th March, 1899.


At the turn of the century the Society's assets reached £39,443.

At the turn of the century the Society’s assets had risen to £39,443. The annual average Bank of England base rate was 3.88%* and the annual average mortgage rate 4.50%*

*Source: Bank of England, Three Centuries of Data


Electric trams began running in Nottingham.


Hubert Cecil Booth produced the world's first vacuum cleaner.

Hubert Cecil Booth produced the world’s first vacuum cleaner that was designed to suck up dirt. It was too large for a normal home but in 1902, after it was used at Westminster Abbey in preparation for King Edward VII coronation, it gained in popularity and over the years became smaller and more efficient.


Celebrations in Loughborough High Street for the coronation of King Edward VII and Queen Alexandra.


The first car number plate in the UK.

The first car number plate in the UK (A1) was issued to Earl Russell who camped outside the London County Council issuing office overnight to be sure he got it. He was the brother of the philosopher Bertrand Russell.



The first scheduled motor bus service on Loughborough High Street en route from Shepshed to Quorn.


Sinking of the Titanic.

Before dawn on April 10, the crew of the White Star liner, Titanic, boarded her in Southampton. The passengers boarded between 9:30 and 11:30am. She was described as the world’s most luxurious floating hotel and unsinkable. She left port around 2pm, arriving in Queenstown, Ireland before setting out across the Atlantic to New York. She struck an iceberg on Sunday, April 14 and sunk with the loss of many lives.


The Great War

The First World War also known as the Great War or the War to end all Wars began on 28 July 1914 when Austria-Hungary declared war on Serbia following the assassination of Archduke Franz Ferdinand by Gavrilo Princip, a Serbian national a month earlier. The First World War killed 17 million people, traumatised a generation, overturned old empires and changed the world's political order. It ended on 11 November 1918.


First book published under the Ladybird imprint.

The first book published under the Ladybird imprint was produced by Wills and Hepworth, based in Angel Yard, Loughborough. The company also traces its origins to 1867 when Henry Wills opened a bookshop in Loughborough.


The Rushes damaged by Zeppelin raid.

The Rushes was damaged by a Zeppelin bombing raid on January 31. Zeppelin raids started in England during 1915. They were able to fly at a higher altitude than the defenders' planes and were put to use targeting the coastal towns of Yarmouth and Kings Lynn in January 1915 before moving on to attack London in May 1915. It took some time before the British pilots developed the skills and means to successfully defeat the incoming raids.


Society's assets reached £51,673.

By the end of the year the Society’s assets had reached £51,673. The annual average Bank of England base rate was 6%* and the annual average mortgage rate 5%*. Across the Midlands a glass of Whisky cost 3d and Gin 2d.

*Source: Bank of England, Three Centuries of Data



Royal Air Force founded and Armistice declared.

On 1 April 1918, the Royal Air Force (RAF) was formed with the amalgamation of the Royal Flying Corps (RFC) and the Royal Naval Air Service (RNAS). The RAF took its place beside the British navy and army as a separate military service with its own ministry.

Seven months later, at 11am on 11 November, Armistice with Germany was declared and the Great War ended.


Loughborough Carillon Tower & War Memorial completed.

Loughborough Carillon Tower & War Memorial was built after World War 1 to commemorate the men of the town who gave their lives. It was designed by Sir Walter Tapper, built by William Moss and Sons Ltd. of Loughborough and completed in 1923. Unique in Britain, it is the only purpose built Carillon Tower and is now grade II listed. The dedication of the tower was held on Sunday 22 July, led by Bishop of Peterborough, Frank Theodore Woods and Field Marshal Sir William Robertson.


Shareholder numbers reached 2,168

The Society advanced £28,705 of mortgages which brought total mortgages assets to £103,360.17s.2d; there were now 2,168 shareholders and receipts totalled £53,142.

The annual average Bank of England base rate was 4%* and the annual average mortgage rate 6.08%*, while the average weekly wage was the equivalent of £2.03* in today’s terms.

*Source: Bank of England, Three Centuries of Data


Empire Day celebrations in Loughborough

Also, in December, the Echo carried an advert for a solid oak welsh dresser, 3ft. 6in. wide with real twist legs, on sale at Armstrongs for £5. 19s. 6d.


General Strike in Britian

A general strike began in Britain bringing the nation's activities to a standstill. Overseas, U.S. marines were dispatched to Nicaragua during a revolt, they remain there until 1933. Gertrude Ederle of the U.S.A. became the first woman to swim English Channel.



The Jazz Singer, first successful feature film with sound, debuted in Seattle.


Al Capone brought to justice.

Born in 1899 in Brooklyn, New York, to poor immigrant parents, Al Capone went on to become the most infamous gangster in American history. In 1920 during the height of Prohibition, Capone’s multi-million dollar Chicago operation in bootlegging, prostitution and gambling dominated the organised crime scene. Capone was never indicted for his racketeering but was finally brought to justice for income-tax evasion in 1931. After serving six-and-a-half years, Capone was released. He died in 1947 in Miami. Capone’s life captured the public imagination, and his gangster persona has been immortalised in the many movies and books inspired by his exploits.


Amelia Earhart becomes first woman to fly solo across the Atlantic.

Amelia Mary Earhart made history by becoming the first woman to fly solo across the Atlantic. She received the U.S. Distinguished Flying Cross for this accomplishment. Amelia set many other records and wrote best-selling books about her flying experiences. During an attempt to make a circumnavigation flight of the globe in 1937, she disappeared over the central Pacific Ocean near Howland Island. Fascination with her life, career and disappearance continues to this day.


George V Silver Jubilee celebrations

Large crowds joined the celebrations of George V silver jubilee in a sunny Loughborough Market Place


Jesse Owens makes history at Berlin Olympics.

The Olympics were hosted by Germany in Berlin. Jesse Owens became the first American to win four track and field gold medals at a single Olympics (100m, 200m, 4x100m relay and long jump), a record that stood unbroken for 48 years.



Society moves to first official premises.

It was in this year, when the average house cost less than £500, that the Society moved into its first official premises at 16 Baxter Gate. On August 18, the new building was opened by the Mayor who stated that the work of the Society should be recognised as necessary and beneficial to the community.


War of the Worlds causes havoc.

Orson Welles caused a nationwide panic with his broadcast of “War of the Worlds” - a realistic radio dramatization of a Martian invasion of Earth. He was only 23 years old when his Mercury Theatre company decided to update H.G. Wells’ 19th-century science fiction novel War of the Worlds for national radio. It was not planned as a radio hoax, and Welles had little idea of the havoc it would cause.


Malcolm Sayer, designer of the C, D and E-Type Jaguar, graduated from Loughborough University.


Duchess of Gloucester visits Loughborough.

The Duchess of Gloucester visited Loughborough where she inspected Ambulance personnel on parade. She’s pictured here outside the Society’s branch at 16 Baxter Gate.


May 8 declared Victory in Europe (VE) Day and national holiday.

The announcement that the war had ended in Europe was broadcast to the British people over the radio late in the day on May 7. Many people in Britain didn't wait for the official day of celebration and began the festivities as soon as they heard the news. After years of wartime restrictions and dangers they were eager to finally be able to let loose and enjoy themselves. Colourful bunting and flags soon lined the streets of villages, towns and cities across Britain.


Heathrow airport opened.



Dedication of Bluebell Wood, Loughborough.


Tennesse Williams play, A Streetcar Named Desire, wins Pulitzer prize for Drama.


Statue of Robin Hood unveiled.

At 1pm on July 24, a statue of Robin Hood by James Woodford was unveiled by the Duchess of Portland on the Robin Hood Lawn, beneath the Nottingham Castle walls in Castle Road. In the warm sunshine, 500 school children sat cross-legged on the grass in the special VIP enclosure and watched the ceremony. Cast in eight pieces of half-inch thick bronze (made to last 6,000 years) and weighing half a ton, the 7ft effigy of Nottingham's legendary outlaw proudly stands on a two-and-a-half ton block of white Clipsham stone.


Coronation of Queen Elizabeth II.

The Coronation of Queen Elizabeth II on June 2, prompted joyous celebrations across every town and village. The Coronation service was the first to be televised and for most people it was the first time they had watched an event on television. Over 20 million people in Britain watched the ceremony on TV and around 11 million listened on the radio.


Average weekly wage and other facts.

The average weekly wage was the equivalent of £7.97* in today’s terms, the annual average Bank of England base rate was 5.42%* and the annual average mortgage rate 5.32%*. Society assets reached £1,461,452 and savings balances £1,393,262.

*Source: Bank of England, Three Centuries of Data



NASA launched one of the most important flights in American history.

On February 20, NASA launched one of the most important flights in American history. To send a man to orbit the Earth, observe his reactions and return him home safely. The pilot of this historic flight was Lt. Col. John H Glenn Jr. He circled the Earth three times in 4hrs 55mins, became a national hero and a symbol of American ambition.



One of post-war Britain's most famous scandals - the Profumo affair.



Martin Luther King Jr. delivered 'I have a dream' speech.

On August 28, American civil rights activist Martin Luther King Jr. delivered a public speech in which he called for an end to racism in the United States and for civil and economic rights. Delivered to over 250,000 civil rights supporters from the steps of the Lincoln Memorial in Washington, D.C., the speech was a defining moment of the American Civil Rights Movement.



JFK Assassinated in Dallas, Texas.

On November 22, John Fitzgerald Kennedy, the 35th president of the United States, was assassinated while travelling through Dallas, Texas, in an open-top convertible. As his vehicle passed the Texas School Book Depository Building at 12:30 p.m., Lee Harvey Oswald allegedly fired three shots from the sixth floor, fatally wounding President Kennedy. He was pronounced dead 30 minutes later at Dallas’ Parkland Hospital; he was just 46 years old.


England beat West Germany to win the football World Cup.

A crowd of 97,000 people (including the Queen and the Duke of Edinburgh) watched at Wembley Stadium on June 30, as England beat West Germany to win the World Cup for the first time.

Also in this year, the Society’s assets rose to £3,556,925. The annual average Bank of England base rate was 6.50%* and the annual average mortgage rate 6.95%* while the average weekly wage was the equivalent of £13.45* in today’s terms.

*Source: Bank of England, Three Centuries of Data



Centenary of Loughborough Permanent Building Society.

Loughborough Permanent Building Society celebrated the Centenary of its founding on 31 October, with a dinner at the Kings Head Hotel, Loughborough which was attended by Coun. J. E. Hammond, J.P., Mayor of Loughborough. In this memorable year the Society reported that assets had reached £4 million and it had over 6000 members.


World's first successful human to human heart transplant.

Dr. Christiaan (Chris) Barnard and his team of South African surgeons perform the world's first successful human to human heart transplant on 3 December. This extraordinary event pushed the boundaries of science into the dawn of a new medical epoch.


One small step for man, one giant leap for Mankind.

Apollo 11 astronauts, Neil Armstrong, Edwin “Buzz” Aldrin, and Michael Collins, blasted off on July 16. Four days later, Armstrong and Aldrin landed on the moon in the Lunar Module called the Eagle. Collins stayed in orbit around the moon where he carried out experiments and took pictures.

On July 20, Neil Armstrong became the first human to set foot on the moon. He and Aldrin walked around for three hours. They did experiments and picked up bits of moon dirt and rocks. They also put a U.S. flag and left a sign on the moon which says "Here men from the planet Earth first set foot upon the moon July 1969, A.D. We came in peace for all mankind." The two astronauts returned to orbit, joining Collins. On July 24, all three astronauts came back to Earth safely.


Carillon Court shopping centre opened.


Society moves to new Head Office building.

The Society stayed in Baxter Gate for 37 years until it outgrew the premises and moved to the present site at 6 High Street on 15 July. By that time the Society had seven staff and assets of around £8 million. The average UK mortgage rate was 10.69%*, the average house price £9,000*, a Mars bar around 6p and an average cinema ticket about 45p.

*Source: Bank of England, Three Centuries of Data


Great results for Society in new home.

In its new home Loughborough Permanent Building Society continued to grow, reaching assets of £10 million. A new branch was opened in Long Eaton in this year and by October the Bank of England base rate reached an astonishing 15%* while the average UK house price was £11,000**.

*Source: Bank of England, Changes in Bank Rate **Source: Land Registry, UK House Price Index



Sebastian Coe won his first major race.

Loughborough University Alumni, Sebastian Coe won his first major race, the 800 metres, at the European Indoor Championships in March, just missing the world indoor record. He went on to win Silver and Gold in the 800m and 1500m respectively, at both the 1980 Moscow and 1984 Los Angeles Olympics.


Best year ever for Society with record assets of £13.7 million.


Conservatives won General Election and Margaret Thatcher became Britain's first female Prime Minister.


Rubik's cube was licensed as a toy. It went on to become the biggest selling toy in history.


The wedding of Charles and Diana.

Millions of Britons watched as the wedding of Charles, Prince of Wales, and Lady Diana Spencer took place on Wednesday 29 July at St Paul's Cathedral, London.


Michael Jackson's Thriller album released.

Michael Jackson’s Thriller album was released November 30 and spent nearly two and a half years on the Billboard album chart with 37 weeks at No. 1, holding the modern day record. It was also the first album in history to spend its first 80 weeks in the album chart's top 10. Worldwide, Thriller topped the charts in nearly every market, hitting No. 1 in the United Kingdom, France, Italy, Australia, Denmark, Belgium, South Africa, Spain, Ireland, New Zealand, Canada and apartheid South Africa. The album won a record-setting 8 Grammys with nominations in 12 categories. Seven tracks off the album became top 10 singles with three, "Beat It," "Billie Jean" and "Thriller", topping the singles chart.


Perfect scores for Bolero.

Competing at the Olympic Winter Games in Sarajevo, Great Britain’s Jayne Torvill and Christopher Dean produced a sparkling display in their free programme, watched by 8,500 fortunate spectators at the Zetra Olympic Ice Hall and a TV audience that included 24 million spellbound viewers back home in the UK. Performing to Maurice Ravel’s Bolero, the two ice dancers from the city of Nottingham didn't put a foot wrong. At the end of their remarkable routine the duo were showered with flowers by the rapt audience. Turning to look at the screen, the pair saw a row of perfect 6s, a record score that will never be repeated following the changes made to the judging system in the 2000s.


First Live Aid concert raised more than $125 million.


Princess of Wales on a visit to Loughborough.



The Society dropped 'Permanent' from its name and reported assets of over £42 million.


Loughborough Building Society opened a branch in Derby.


Fall of the Berlin Wall

On November 9, as the Cold War began to thaw across Eastern Europe, a spokesman for East Berlin’s Communist Party announced a change in his city’s relations with the West. Starting at midnight that day, he said, citizens of the GDR were free to cross the country’s borders. At midnight, they flooded through the checkpoints. More than 2 million people from East Berlin visited West Berlin that weekend to participate in a celebration that was, one journalist wrote, “the greatest street party in the history of the world.” People used hammers and picks to knock away chunks of the wall while cranes and bulldozers pulled down section after section.


Another visit to Loughborough by Princess Diana.

By the time Princess Diana visited the town on 24 April 1990, the annual average mortgage rate had reached the heady heights of 15.02%*, the average UK house cost £58,000** and a litre of petrol was around 41.82p***.

*Source: Bank of England, Three Centuries of Data **Source: Land Registry, UK House Price Index ***Source: Source: The AA, Petrol Prices 1896 to present


Nelson Mandela became South Africa's first black president.

Nelson Mandela became South Africa's first black president after more than three centuries of white rule. Mr Mandela's African National Congress (ANC) party won 252 of the 400 seats in the first democratic elections of South Africa's history. The inauguration ceremony took place on May 10 in the Union Buildings amphitheatre in Pretoria and was attended by politicians and dignitaries from more than 140 countries around the world.


Society growth in Loughborough.

On August 1 the Society opened a separate branch in Loughborough at 4 High Street, just a few doors away from the Head Office building. At that time we had 31 staff and assets of £120 million.


Paula Radcliffe graduated from Loughborough University.

A young Paula Radcliffe graduated from Loughborough university with a first class honours degree in modern European studies. She became yet another Loughborough alumnus and Olympian to break a world record. Despite never winning an Olympic medal she is perhaps the most famous female distance runner of all time and has held the marathon world record for over 12 years.



First Harry Potter book published.

Harry Potter and the Philosopher’s Stone was released on June 26. This was the first in a series of novels by British author J. K. Rowling. The novels chronicle the life of a young wizard, Harry Potter, and his friends Hermione Granger and Ron Weasley, all of whom are students at Hogwarts School of Witchcraft and Wizardry.

The series has found immense popularity, critical acclaim and commercial success worldwide and has been translated into multiple languages including French, Irish, Spanish, German and Swedish to name a few. They have attracted a wide adult audience as well as younger readers.


Google was founded.

Google was founded by Sergey Brin and Larry Page who created it in order to organize information on the Internet and help users find the information they were looking for. Google began primarily as a search engine, which crawls through new and old web pages and sorts them based on relevancy to a user's search. It was launched in Susan Wojcicki's garage with an initial funding of $100,000. Google left the garage the following year and moved into a new office with a team of eight people.


The Sock sculpture in Loughborough Market Place was unveiled.

The Sock, created by the sculptress Shona Kinloch, was unveiled in April. It depicts a man seated on a bollard, wearing only a sycamore leaf and a sock, which he is looking down at admiringly. His sock is symbolic of Loughborough's hosiery industry, and the rest of the sculpture contains images from the town's history. The Sock was far from universally admired when unveiled but hearts have warmed to it and it is now a well-loved feature of the Loughborough scene


A number of firsts for the Society.

During this year the Society had a number of firsts, our first website launched on March 12; our first ever fixed rate saver, the Debut Account with a top rate of 6.4%, launched on October 29; lending was up 25% to £25 million and assets reached £157.8 million.


The new millennium brings a Classic.

In July the Society launched a new savings account, the Classic for over 55s, which paid a rate of 6.5% at that time. The Classic remained one of our most popular savings accounts for many years.

The Bank of England base rate ended the year at 6%* and the annual average mortgage rate was 7.10%*. The average weekly wage had risen to £334.08*, a litre of diesel costs around 81.95p*** and a pint of milk 34p****.

*Source: Bank of England, Three Centuries of Data ***Source: The AA, Petrol Prices 1896 to present ****Source: Office for National Statistics


Leicester became home to the National Space Centre.

Leicester became home to the National Space Centre, one of the UK’s leading visitor attractions. It is a museum and educational resource covering the fields of space science and astronomy, along with a space research programme in partnership with the University of Leicester. It is located on the north side the city next to the River Soar. Many of the exhibits, including upright rockets, are housed in a tower with minimal steel supports and a semi-transparent cladding of ETFE 'pillows' which has become one of Leicester's most recognisable landmarks.


The Society sponsored Loughborough Town Hall Panto for the first time.



Steve Jobs introduced the iconic Iphone.

It was hard to not be impressed by the iPhone when Apple first debuted it. A sleek, touchscreen phone that put the internet in your pocket. Something was missing though; we still had to rely on ingenuities hackers to code games and apps. Not for long, the very next year, Apple launched the App Store and changed everything all over again.

But Apple didn't stop there; iPods, iPads, Mac desktops and laptops now all run on a hardware-plus-app-store model. People in the mobile ecosystem alone download an estimated 46 million apps every day.


Bank Base Rate fell to 0.5%.

March 5, the Bank base rate fell to 0.5% and stayed there until 2016 when it reduced again to 0.25% on August 4.


London hosted the 2012 Olympics.

Great Britain's performance at the London 2012 games was their greatest ever, sealing third in the medal table. Team GB finished with 65 medals, 29 gold, 17 silver and 19 bronze. They were behind the first-placed United States and China in second, but they couldn’t be caught by fourth placed Russia. It surpassed their total of 47 at the 2008 Beijing Games and the target of at least 48 set by UK Sport. Sir Chris Hoy won his fifth and sixth gold medals, becoming Great Britain’s most successful Olympic athlete of all time with six gold medals and one silver.


In June Britain voted to leave the EU after 43 years.


Leicester City Football Club became Premier League Champions.


Great Britain smashed medal target at Rio Olympics.

Great Britain smashed their medal target for the 2016 Olympics, achieved a succession of notable 'firsts' and caused a major stir by finishing second in the table, above global powerhouse China. Of the 366 athletes that went to the Rio Games for Team GB, 130 of them - just over 35% - returned with a medal, including every member of the 15-strong track cycling team.

East Midland news celebrated with Adam Peaty’s Nan as he claimed GB's first gold of the Games, winning the 100m breaststroke in a world record time on day two.


The Society's 149th year.

We’re very proud of our long history during which there have been many changes across the financial industry and there will no doubt be many more in the future. While remembering the successes of the past our gaze is firmly fixed on the future needs of our members and the continued growth of the Society. In our 149th year we launched a range of mortgages specifically designed for people in retirement or who may need a term beyond the age of 70 and we launched a new website that was developed with input from a group of our members.



150 years of helping people buy their home and save for the future.

Our 150th year started on a high note as we reported record assets of £303 million and added other innovative product solutions to our range to meet the changing needs of today’s society, for example our Buy for University Mortgage.