Lending to first-time buyers rose by 115% at the Teachers Building Society last year.
Just over half of the business was through Teachers’ broker channels and the mutual is seeking to increase that figure higher this year.
29% of its first time buyer lending was to buyers with no deposit who were getting on to the ladder with the FirstBuy scheme.
Now Teachers Building Society, which is looking to lend to first-time buyers who are either education professionals or Dorset residents, says it is scaling up its commitment to the sector still further with plans to increase lending by 20% in 2013.
The success with broker channels follows news that Teachers’ decision to re-enter the broker market helped drive lending up 150% for the first half year.
Teachers Building Society chief executive James Bawa (pictured) 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.
“We are excited about what our relationship with brokers can help us deliver for first time buyers in the future.”
