Great Coventry mortgage deals result in a 14% increase in lending.
Coventry mortgage lending figures released for 2011, show gross lending for the building society reached £4 billion which was a 14 per cent increase on 2011 figures.
The 2011 figures equal a market share of mutual lending of 17 per cent and compare well to gross mortgage lending levels in 2010 which were £3.5 billion.
The Coventry mortgage net lending figure for 2011 was £1.7 billion which was very slightly up on the £1.6 billion recorded for 2010. Underlying pre-tax profit for 2011 was £84.6 million, which was a 12 per cent increase on profits recorded for 2010.
David Stewart who is the chief executive for the Coventry commented on the figures saying that he was a happy to report that the building society are managing to maintain their strong performance and track record of good results.
He added that Coventry’s success stems from serving their customers interests while managing to remain financially secure and strong. He advised that the Coventry are able to stand comparison with any UK bank or building society.
Coventry's support of the intermediary sector is felt to be the key to their solid performance and the lender plans to strengthen intermediary partnerships further this year.
The lender has started 2012 well by launching a new range of Coventry mortgage products aimed at helping both first-time buyers and home-owners who want the security of long term fixed products.
