By Daniel Hunter

The UK's largest building society, Nationwide, has said that its share of the mortgage market has reached a record high.

Nationwide said gross mortgage lending had risen by 17% in the year to 4 April to £21.5bn, increasing its share of the market to a record 15.1%.

Statutory profit rose by 3% to £210m, up from £203m a year earlier.

“The last year has seen us take a record share of the residential mortgage market and our net lending has more than equalled the net lending of the whole of the UK mortgage market," Chris Rhodes, Nationwide’s Executive Director, said.

"We have not simply focused on new customers but, as you would expect from a member owned organisation, we have reserved the very best deals for our existing customers. We have also given additional help to first time buyers through our Save to Buy scheme and we have now extended that scheme to home movers."

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