1 Mar

Coventry takes record mortgage market share

Coventry takes record mortgage market share

Coventry Building Society has announced a record mortgage market share on 19 per cent in 2010.

The lender approved £3.5 billion worth of mortgages for property for sale in 2010, up from £2.7 billion in 2009.

In addition, the building society was responsible for 17.1 per cent of all mortgage advances by building societies and mutual lenders last year.

Coventry says its track record has been "largely unaffected" by the 2007 financial crisis.

David Stewart, chief executive of the lender, says the firm has a track record of supporting mortgage intermediaries.

He said: "In 2010, we are again grateful for the support received from all types of mortgage advisors.

"This support has been instrumental in helping us achieve a record market share."

Leeds Building Society has also announced a strong performance in 2010, lending £984 million to people looking for houses for sale in the UK.

The building society plans to lend approximately £1.25 billion in the next 12 months, to provide more "capacity and choice" to the UK market.ADNFCR-1222-ID-800435887-ADNFCR

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