Nov
22
Nationwide Mortgage Lending Jumps as U.K. Housing Market Booms
By-
Gross lending jumps 14% to 14.9 billion pounds in first half
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Buy-to-let lending up 32%, representing 15% market share
Nationwide Building Society, the U.K.’s second-largest mortgage provider, said lending increased 14 percent in the first half, fueled by loans to landlords in the nation’s booming housing sector.
Gross lending increased to 14.9 billion pounds ($23 billion) in the six months through September from 13.1 billion pounds a year earlier, the Swindon, England-based lender said in a statement on Friday. Buy-to-let lending jumped 32 percent to 2.9 billion pounds, representing a 15 percent share of the U.K. market. Pretax profit increased 34 percent to 802 million pounds…
Nationwide Mortgage Lending Jumps as U.K. Housing Market Booms
