Mortgages  

Nationwide does one in five FTB mortgages

Nationwide’s full year results revealed the society now has a market share of 14.9 per cent of UK residential mortgage lending.

The society now accounts for around one in five first time buyer mortgages.

The Mortgage Works gross advances accounted for £3.7bn (an increase of 12 per cent on 2013) of Nationwide’s total mortgage lending, with net lending of £1.7bn.

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The buy-to-let specialising subsidiary represented a market share of 16 per cent.

Chris Rhodes, executive director of Nationwide, said: “The message that mutuality means better deals for members is clearly getting through. Nationwide has continued to increase the amount it lends, including providing one in five of all first-time buyer mortgages over the last year. And our existing customers continue to benefit too.

“The combination of competitive products and our reputation for excellent customer service continue to ensure Nationwide stands out from its competitors, while at the same time supporting those in housing need; for Nationwide, it is part of our mutual difference.”