LONDON: Nationwide, one of Britain’s largest mortgage lenders, unveiled a set of stellar half year results.
The lender said statutory profit before tax was up a huge 34% at £802 million ($1.2 billion).
And within the announcement, Nationwide revealed two key points that show Britain’s economic recovery is a lot stronger than people give it credit for.
Firstly, a lot more people are getting on the property ladder. Its half year results show:
Record half year gross mortgage lending, up 14% at £14.9 billion. Helped 25,700 first time buyers in to a home of their own, up 8%.
