Nationwide takes 8.3% of mortgage market

Nationwide Building Society has announced an underlying profit of £117 million for the half year ended 30 September 2009.

The Group achieved an estimated 8.3% share of the gross residential mortgage market, writing new business with an average loan to value (LTV) of 63%.

In its statement, the Nationwide said its approach to new lending has remained cautious, “striking an appropriate balance between our desire to support existing members