The Coventry Building Society has reported net lending of £1.5 billion for the first six months of 2018 (2017: £1.6 billion).
This equates to an estimated 10% of the market.
This is after the sale of a £351 million buy-to-let mortgage portfolio in June 2018. In the 12 months to 30 June 2018, our mortgage balances have grown by 8%, estimated to be more than three times the rate of the market.
Gross lending for the period totalled £4.6 billion.
Savings balances increased by £0.4 billion in the first half of 2018, taking overall deposits to a record £31.4 billion. In the 12 months to 30 June 2018, the Society’s savings are expected to have grown by more than twice the rate of the market1.
Mark Parsons, chief executive of the Coventry Building Society, said: “These results show a strong start to the year, in which we continued to outperform the market in terms of growth in savings and mortgages, continued to pay considerably more to our savers than the market average and further improved our service to members.”