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Teachers BS grows lending by 27%

  • 20/01/2014
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Teachers BS grows lending by 27%
Teachers Building Society increased its lending by more than a quarter in 2013, figures from the lender have revealed.

The mutual said it increased lending volumes by 27% year-on-year with first-time buyer lending up 14%.

During the year Teachers extended its lending area from its home county of Dorset to include Hampshire residents. It continues to lend to teachers and education professionals across the country.

The lender revealed to Mortgage Solutions in November it was planning further expansion in the future following requests from mortgage brokers.

Teachers Building Society chief executive James Bawa said: “We were founded to help people to buy their own homes and we continue to do all we can to help that dream become a reality, both for people working in education and those on our doorstep in Dorset and now Hampshire.

“I’d like to thank our intermediary partners, who introduce around half of our new mortgage business, for helping us exceed our plan last year. Lending to first-time buyers represents 27% of our loan book for 2013 and it’s an area we really want to keep the focus on. First-time buyers are crucial for the health of the housing market and wider economy and we’ve been very pleased to see the property market begin to recover this year.”

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