Building societies have helped almost a third (32%) of first-time buyers get on the housing ladder, according to the Association of Building Societies (BSA).
BSA figures found that building societies provided 61,730 mortgages to First time buyers In the six months until March 2026.
Mortgage balances in the sector rose by £7.5 billion to £499 billion during the period, representing 29% of all outstanding mortgage loans.
Building societies and shared ownership banks attracted 19% of total cash savings in the six months to March 2026, and hold 23% of all outstanding savings balances in the UK, totaling £499 billion.
Paul Brodhead, head of mortgage and housing policy at the BSA, said: “Although mortgage interest rates remain higher than at the start of the year, the market remains active with strong competition between lenders and average mortgage rates have fallen over the past three months.”
“What these figures show is the value of having a diverse financial services market. Building societies continue to use their mutual model to support those who often find it more difficult to access home ownership, while also offering better value for savers.
“At a time when household finances remain strained, consumers are increasingly choosing organizations that focus on long-term value rather than short-term shareholder returns, which is one reason why mortgage balances and savings in building communities continue to grow.”
