Societies approved 114,793 loans in Q3, up 4% on the same quarter last year when there were 110,216 loans.
Building societies approved 29% of all new mortgages in the third quarter of 2017, figures from the Building Societies Association show.
Societies approved 114,793 loans in Q3, up 4% on the same quarter last year when there were 110,216 loans.
In terms of gross lending societies took a 25% share of the mortgage market.
Andrew Gall, chief economist at the BSA, said: “Building societies took a sizeable market share of mortgage lending in the third quarter of 2017.
“Activity in the market has been subdued but there was a pick-up in remortgaging activity prior to the widely anticipated rise in the Bank Rate from 0.25% to 0.50% as borrowers fixed their mortgage before rates increased.
“Almost 90% of new mortgages in Q3 were on fixed rates, so many homeowners will be protected from interest rate rises for a number of years.”
