Nationwide's mortgage lending up a third

Nationwide grew its mortgage lending by a third in the 2013/14 financial year, its latest annual results have shown.

Related topics:  Mortgages
Amy Loddington
28th May 2014
Mortgages

The building society completed £28.1bn in mortgage lending during the year to 4 April 2014. This was 31% up on the previous 12 month period and represents 14.9% of all UK residential mortgage lending.

The mutual said 0.63% of its residential mortgage loans were currently in arrears, below the industry average of 1.59%.

Nationwide executive director Chris Rhodes said:

"The message that mutuality means better deals for members is clearly getting through. Nationwide has continued to increase the amount it lends, including providing one-in-five of all first-time buyer mortgages over the last year. And our existing customers continue to benefit too.

"The combination of competitive products and our reputation for excellent customer service continue to ensure Nationwide stands out from its competitors, while at the same time supporting those in housing need; for Nationwide, it's part of our mutual difference."

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.