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Brokers drive 150% lending surge at Teachers BS

UK House Property 480

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.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Blimey, is this a quiet day for news? According to my reckoning, that lending figure is equivalent to less than one average sized mortgage a day (working day that is)!

  2. Regardless of Anon’s maths, I have used them on several cases, all with one or joint teachers and all have been handled far better than majority of other lenders, you get an email response on the day you enquire, you get someone to talk to who cares and you get generally speedy service and good rates. Now find me a lender that ticks all or even majority of those and one who has just had probably unprecedented levels of lending, compared to what they are used to, and I will have to purchase a hat, to go and eat!

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