24 May

Nationwide's claims its highest ever share of mortgage market

Nationwide's claims its highest ever share of mortgage market

Nationwide has enjoyed an encouraging 12 months, claiming its highest ever share of the mortgage lending market.

Figures from the group revealed that gross mortgage lending had increased by 17 per cent to £21.5 billion over the last year to April 4th 2013.

This accounts for 15.1 per cent of all UK residential mortgage lending, while over the same period Nationwide's net lending was £6.5 billion.

The organisation said that it has continued to focus on first time buyers, helping people take their first step on the property ladder.

It provided mortgages to over 42,000 first timers in the past 12 months, which was a 75 per cent increase on the previous year.

Chris Rhodes, executive director at Nationwide, 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."ADNFCR-1222-ID-801590034-ADNFCR

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