Lending at Wimborne-based Teachers Building Society increases by 27% compared to previous year (From Bournemouth Echo)
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Lending at Wimborne-based Teachers Building Society increases by 27% compared to previous year
10:19am Tuesday 28th January 2014 in News
LENDING at Wimborne-based Teachers Building Society increased by 27 per cent in 2013 over the previous year.
The mutual lender says the total includes a 14 per cent increase in the amount lent to first-time buyers.
The society, which specialises in lending to education profes-sionals, already lends money to people of any occupation in Dorset. It extended its reach by offering its mortgage service to non-teachers in Hampshire from last November.
The surge came in the same year the number of first-time buyers rose 22 per cent nationally.
Teachers launched a 95 per cent loan-to-value mortgage last March.
Teachers chief executive James Bawa says: “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 Hamp-shire.
“Lending to first-time buyers represents 27 per cent 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.”
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