Repayments in May were £11.7bn, compared to the previous six-month average of £11.6bn.
The number of loan approvals for house purchase, at 51,098, fell slightly in May and was lower than the previous six-month average of 52,812.
The number of approvals for remortgaging, at 29,244, also decreased in May and was lower than the previous six-month average of 30,445.
The number of approvals for other purposes was slightly lower during the month, at 18,079 and was lower than the previous six-month average of 19,531.
Figures out from the Building Societies Association (BSA) today showed gross mortgage lending by building societies and other mutual lenders rose 54% to £2.8bn in May compared to £1.8bn in May 2011.
In the first five months of 2012 lending rose 40% compared to the same period in 2011.
Mortgage approvals by mutuals were up by 67% in May compared to the same month last year, and were 32% higher than the average over the previous six months.
Approvals were up 48% in the first five months of the year compared to the same period in 2011.
Adrian Coles, Director-General of the BSA, said: “Other data collected by the BSA shows that nearly a quarter (24%) of new lending this year by mutuals was to first-time buyers.
“The mutual sector is giving a strong signal that it is open for business to all types of borrower whether buying a property for the first time or remortgaging. Approvals by mutuals were up significantly in May both compared to last year and the previous six months which demonstrates the mutual sector’s commitment to lend in the coming months.”
