West Brom Building Society posted mortgage lending that jumped 41% to £646m on a year ago, a record first-half total driven by first-time buyers.
The mutual said it helped over 4,700 borrowers find homes in the six months to the end of September, with FTBs accounting for more than 3,000 of those customers, up 41% from a year ago.
It added that its residential mortgage book climbed to £354m from £81m a year ago.
Also, in September, the business raised £300m in wholesale funding through a residential mortgage-backed securitisation.
It posted a pre-tax profit up 26% to £17.2m in the period, as the firm’s new savers more than doubled to 7,640.
West Brom Building Society chief executive Jonathan Westhoff said: “As the structural imbalance between housing demand and supply remains in the UK, we are enthusiastic about the government’s commitment to increase the housing supply and their manifesto pledge to double the size of the mutual sector.
“We’re committed to expanding the ways we can help those who are underserved own a home and will be launching further mortgage products to help customers struggling to save for a house deposit.”
