Net mortgage lending at Virgin Money almost doubled to £2.6bn in the third quarter, compared with the first nine months of 2014.
The bank’s trading update stated that total gross mortgage lending increased by 2.6 per cent in the eight months to the end of August, compared with the same period in 2014.
The group’s share of gross mortgage lending in the first eight months of the year was 3.5 per cent.
Mortgage balances at 30 September were £24.5bn, an increase of 12 per cent from £21.9bn at year end.
Jayne-Anne Gadhia, chief executive of Virgin Money, said that with re-mortgage volumes growing and helping to drive year-on-year growth in overall gross mortgage lending in the third quarter, the lender expects front book asset spreads to remain broadly stable at current market rates for the rest of 2015 and into 2016.
The lender also made “good progress” with advisers, with Ms Gadhia adding that development of the proposition and franchise meant that its year-to-date intermediary net promoter score improved to plus 40.
Back in March, the group reported mortgage balances up 11.8 per cent against market growth of 1.4 per cent, boosting net lending of £2.3bn and increasing market share to more than 10 per cent.
emma.hughes@ft.com
