Nationwide's gross mortgage lending up 48%
Nationwide Building Society increased its gross mortgage lending by 48% in the six months to September.
In its interim results for the six months to September 30, 2011 the society lent £8.9bn, up 48% on the £6bn it lend over the same period in 2010.
The lender says that they approved over 10,000 first-time buyer mortgages and that their market share has increased from 8.5% in 2010 to 12.4%.
Chief executive Graham Beale told Mortgage Strategy magazine that the funding had come from a 250% increase in the level of savings receipts to £1.4bn, making Nationwide the second largest savings provider in the UK.
He also said that there has been a 24% increase in the combined sales of Nationwide’s current accounts, personal loans and credit cards.
24 November 2011
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