Improved results for the Cambridge

The Cambridge Building Society increased its share of the UK mortgage market last year.

Its lending increased by 13% during 2011.

The Society also reported a increase in its assets, which are up 6.2%, taking the mutual to a £1 billion milestone.

Mortgage balances were up 7.9% and savings balances by 6.6%. The Society has lent £144.5 million, a 13% increase on 2010.

Meanwhile, the mutual delivered a profit of £0.6 million.

During 2011, The Cambridge undertook a complete review and upgrade of its core product range, launching various new products including its Retail Price Index linked savings account and its Easy Start first time buyer mortgage.

Stephen Mitcham, chief executive at The Cambridge, said: “Over the past 12 months the Society has gone from strength to strength as it has invested in enhancements to the products and services it offers new and existing customers.