Nationwide Building Society increased its residential mortgage lending by 16% in the nine months to 31 December 2015.
Nationwide Building Society increased its residential mortgage lending by 16% in the nine months to 31 December 2015.
On a gross basis the society lent £23.6bn, up from £20.4bn in the corresponding period of 2014.
Nationwide increased its underlying profit by 15% to make just under £1.13bn.
Graham Beale, Nationwide’s chief executive, said: “Nationwide has continued with the success reported at the half year, with the third quarter performance demonstrating the strength of our franchise and proposition across all of our principal markets.
“This success is the result of continued investment in our products, our branches, our digital channels and our services. As a building society, our primary focus is on our members, and notwithstanding the continued low interest rate environment, we will continue to invest in the society and our member proposition going forward.”
Nationwide’s share of net mortgage lending was 22.3% over the period, greater than the society’s 12% share of the mortgage market.
Typical customers took out a mortgage at 69% loan-to-value.
Last week Nationwide announced that BT Openreach’s Joe Garner will replace Beale as chief executive in April.
Bealeadded: "I remain confident and excited about what Nationwide can offer in the future and I wish Joe every success.”
