Brokers have driven a 150 per cent surge in mortgage lending at Teachers Building Society in the first half of 2012.
The building society pulled out of the broker market in November 2004 but returned in May last year. It says brokers have arranged half its £14.8m mortgages this year. The building society lent £6m in the first half of last year.
The increase is also down to Teachers’ decision to lend to local residents in Dorset as well as to teachers.
In July last year, the lender expanded its distribution through Next Intelligence and Legal & General directly authorised mortgage clubs.
Chief executive James Bawa says: “We are delighted by the impact of re-entering the broker market, which has made our products more accessible to a wider market. While we expect interest rates and the mortgage market to remain flat in the coming months, we are excited about what our relationship with brokers can deliver in the future.”