By Daniel Hunter

Principality Building Society has announced that its lending to home owners has exceeded £5bn for the first time.

This increased mortgage lending has also been strengthened by Wales’ largest building society helping more than 1,100 first-time buyers get on to the property ladder in the first six months of the year.

Graeme Yorston, Group Chief Executive of Principality Building Society, said: “I am delighted to report another very strong set of results for the Principality Group for the first six months of 2015, where we have seen our strategy of growing the core business continuing to deliver.

“In the first half of the year we have once again grown our lending to customers buying their own home, contributing to the overall increase in lending to home owners which now exceeds £5bn for the first time in the Society’s 155 year history. Crucial to this and to the market as a whole, has been lending to first-time buyers where we have consistently supported people onto the housing ladder. As house prices have stabilised and low interest rates have been seen across the market a greater level of affordability has returned, enabling us to help over 1,100 first-time buyers move into their first home in the first six months of the year.”