The Nationwide Group has increased its gross mortgage lending by 17 per cent to £21.5 billion up to April 4th 2013, accounting for 15.1 per cent of all UK residential mortgage lending.
This represents Nationwide’s highest ever market share. Over the same period, the Nationwide Group’s net lending was £6.5 billion, more than double that achieved in the previous financial year and equivalent to more than 100 per cent of total net lending in the UK.
During the year Nationwide provided mortgages to over 42,000 first time buyers, a 75 per cent increase on last year.
Nearly 30,000 Save to Buy accounts have been opened since launch in April 2011, with the average account balance being £3,270.
Chris Rhodes, Nationwide’s Executive Director, said: “The last year has seen us take a record share of the residential mortgage market and our net lending has more than equalled the net lending of the whole of the UK mortgage market. We have not simply focused on new customers but, as you would expect from a member owned organisation, we have reserved the very best deals for our existing customers. We have also given additional help to first time buyers through our Save to Buy scheme and we have now extended that scheme to home movers.”
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