Nationwide reaches record levels of mortgage lending

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Nationwide achieved record levels of gross mortgage lending at £33.7bn as its membership reaches an all-time high of 15 million.

This is an increase of £19bn in lending from the first half of the year and included the highest gross prime lending, helping 31% more first-time buyers purchase a home of their own.

Of the total figures, £12bn in mortgage lending was to those moving into their first property.

Joe Garner, chief executive at Nationwide, said: “Our members have benefited by over half a billion pounds from our commitments such as paying higher rates of interest and charging lower fees than our major high street competitors.

We made a conscious decision to support those saving regularly and aspiring to get onto the housing ladder and our mutual model enabled us to do this without affecting what has been a high performing year.”

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Written by: Houseladder