Teachers Building Society has said that re-entry into the broker market has helped drive lending up 150 per cent in the first half of the year.
It said that lending has surged despite a broadly flat market, with Teachers Building Society reaping the benefits of the broker market and a decision to move away from lending exclusively to teachers and make its mortgages available to Dorset residents.
New lending reached £14.8m for the first six months, up from £6m in the same period in 2011 and the same as the full year total for 2010.
Broker mortgages to date in 2012 account for just over half of all new lending, it said.
Chief executive James Bawa said: “We are delighted by the impact of re-entering the broker market, which has made our products more accessible to a wider market.
“While we expect interest rates and the mortgage market to remain flat in the coming months, we are excited about what our relationship with brokers can deliver in the future.
“We pride ourselves on the exceptional quality of our customer service and value for money products and believe that this is what customers want, particularly at a time when trust in financial institutions is at an all time low.
“Although the economy continues to be challenging, Teachers Building Society remains financially strong and we are confident our full year figures will make welcome reading for our members.”
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