The Building Societies Association has published figures showing that building societies approved over 103,000 mortgages between July and September 2015. These approvals accounted for 27% of the total market – well above societies’ natural market share of 21%.
During this period:
- Building societies advanced £15 billion in gross new mortgage lending
- Net lending (gross lending minus repayments) was £3.8 billion, accounting for a 32% share of the market
- Savings balances increased by £3.7 billion, giving building societies’ a 34% share