Teachers Building Society has seen its mortgage lending increase by 50 per cent year on year to £9.1m, the highest amount of lending in one month during its near-50 year history.
The Dorset-based mutual also reported new highs for savings inflows, with a year on year increase of 30 per cent.
James Bawa, chief executive of Teachers Building Society, said the growth was down to a long-term growth strategy initiated following the 2008 financial crisis.
The society also noted that re-entering the mortgage intermediary market three years ago contributed to the August figures. There have been widespread claims that intermediaries are experiencing a mortgage business boom, not least as a result of the Mortgage Market Review.
“The years immediately following the credit crunch weren’t easy, but we set a course for continued strength and took a prudent approach while the waters were stormy.
“Now that the outlook is brightening, we’re seeing some normality return to the mortgage and savings markets and I’m very proud of this result.”
