According to Coventry Building Society’s latest financial results, this figure was partially offset by redemptions and other repayments.
It continued on to say that growth during the period was driven by more lending in the higher loan-to-value (LTV) segments, and it has “taken a measured approach to participation, given new business margins and the acquisition”.
The lender’s mortgage book grew £20.5bn to £72.3bn in the first half of this year, which is up from £51.8bn at the end of last year.
The firm said the growth was due to the acquisition of The Co-operative Bank, and organic growth was flat over the period.
Coventry Building Society said it had grown its mortgage market share to 4.3%, a rise from 3.1% at the end of last year.
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Arrears for the period came to 0.36% of mortgages in more than three months in arrears, a slight rise from 0.33% at the end of last year.
The firm’s underlying profit before tax has risen to £200m, up from £159m in the same period last year.
Coventry Building Society said its limited company buy-to-let (BTL) launch in April had broadened its reach in the residential rental sector and it had a “strong pipeline in the first three months of launch”.
Steve Hughes, chief executive of Coventry Building Society, said: “This is a transformational year, with the addition of The Co-operative Bank into the Coventry Building Society Group, and it is pleasing to see such a robust performance in the first six months.
“We remain focused on delivering the right outcomes for our members and customers as we continue our journey of building a purpose-led organisation that will stand out in UK financial services.”
