Nationwide lending up 40pc

Robyn Hall

March 19, 2013

Figures for 2011 and 2012 have revealed that the society increased its gross lending from £12.1bn in 2011 to just over £17bn in 2012.

Nationwide’s statistics also revealed that it had increased its lending by £3.6bn whilst borrowing £2bn from the Funding for Lending Scheme.

Chris Rhodes, executive director for Retail at Nationwide, said: “We remain entirely focussed and committed on delivering the best possible service for our members.

“What we would like to see is a reinvigorated market in which mortgage lenders who might be reluctant to lend – despite Government assistance – start lending rather than shrinking.

“The fact that the FLS is being run until January 2014 should hopefully act as a catalyst for others to take that important step forward.”

Gross lending figures show that in the half-year between January and June 2011 Nationwide’s lending reached just over £5bn. That figure increased by over 39% to around £7bn in 2012.

The most recent figures for the second half of 2012 show that lending was up by 42% to nearly £10bn.

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