First-time Buyers
Nationwide lent highest six-month mortgage total in five years – results
In the half year interim results to 30 September Nationwide increased its gross mortgage lending by 37% to
Nationwide’s results follow Lloyds’ at the end of October which suggested Lloyds is likely to remain the UK’s biggest lender. Lloyds Bank, Halifax and Bank of Scotland advanced £25.2bn between January and September.
For Nationwide lending to first-time buyers was 52% higher than the same time last year, at £6.7bn. This means it oversaw one-in-five first-time buyer loans in the UK.
The total number of mortgage borrowers jumped 45% to reach 56,500, handing the mutual 15.4% of market share. Over the same period, the Nationwide’s group net lending was £5.6bn, up 75% on 2012/13.
The lender is participating in government schemes, including the Help to Buy equity loan schemes in England and Scotland, New Buy and MI New Homes in Scotland. But Nationwide maintained it has no plans to launch a Help to Buy 2 product.
