The Coventry Building Society has reported increased mortgage advances and net lending.

The UK’s second largest building society now has more than 1.9 million members and total assets of over £46 billion.

Mortgage advances totalled £8.9 billion [2017: £8.6 billion], while mortgage assets increased £3.4 billion to £39.3 billion, representing growth of 9%.

Savings deposit balances grew by £2.3 billion to £33.3 billion, representing growth of 7%.

Mark Parsons, the Coventry’s chief executive, said: “We’re doing what we’re here to do – providing access to competitive mortgages in a responsible and sustainable way. Our consistent outperformance of the market shows that we’re focusing on the right things – great value mortgages and fantastic service for borrowers and intermediaries alike.

“I want to thank our intermediary partners who’ve worked with us to deliver another year of robust growth.”