The lender’s mortgage arrears are down 28 per cent from April last year and possessions are down 60 per cent which constitutes 56 properties. Gross lending is 40 per cent up at £24.4 billion and the average loan-to-value ratio across the lender’s mortgage book stands at around 38 per cent.
UCB, Nationwide’s specialist lending arm, advanced £1.9 billion up £0.3 billion since this time last year.
Philip Williamson, chief executive of the Nationwide, said: “Our approach to mutuality has helped Nationwide double its asset size to over £100 billion in the five years since the carpetbaggers tried to persuade our members to vote for conversion to plc status in 1998. Since 1996 our members have benefited by over £3 billion in the form of better rates and lower fees and charges.
