THE Universal Building Society said consumer confidence, the buoyant housing market and competitive products all helped it to record its best month ever.
The Newcastle mutual building society reported record gross lending for July, with levels up 27 per cent from the same month last year.
Ian Stafford, general manager of lending, said: "The strength of the buoyant housing market in the region has led to increased consumer confidence in the value of their homes.
"We have seen the popularity of home improvement loans increase because people are willing to invest more money in their homes, thanks in part to the current craze for DIY and property shows on television.
"These programmes have also contributed to more remortgages, as people have a wider knowledge of the market and they are willing to shop around to get the best deal.
"The days of keeping the same mortgage for 25 years no longer exist."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article