Teachers FTB lending up 115pc

Nia Williams

February 7, 2013

James Bawa, Teachers Building Society chief executive, said: “We are committed to helping people make that crucial step on to the housing ladder and we’ve really put our money where our mouth is.

“Lending to first-time buyers represents 30% of our loan book for 2012 and it’s an area we really want to keep the focus on.

“First-time buyers are essential for the health of the entire housing market and we are determined to keep on innovating to help realise their home-owning dreams.”

Teachers’ decision to re-enter the broker market contributed to its success in the market.

Just over half of the society’s lending to first-time buyers was through broker channels and overall lending was up 150% for the first half of its year.

Teachers also revealed that almost a third (29%) of its lending was to buyers who were purchasing their home through the FirstBuy scheme.

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