Teachers Building Society has reported a first half-year increase on new lending of 150% compared to the same period last year.

The mutual has largely attributed this rise to its re-entry into the broker market.

It also decided to move away from lending exclusively to teachers and make its mortgages available to Dorset residents.

New lending had reached £14.8 million by the halfway stage, up from £6 million in the same period in 2011 and the same as the full year total for 2010.

Broker mortgages to date in 2012 account for just over half of all new lending.

“We’re delighted by the impact of re-entering the broker market, which has made our products more accessible to a wider market,” said James Bawa, chief executive of Teachers Building Society.

“While we expect interest rates and the mortgage market to remain flat in the coming months, we are excited about what our relationship with brokers can deliver in the future.

“We pride ourselves on the exceptional quality of our customer service and value for money products and believe that this is what customers want, particularly at a time when trust in financial institutions is at an all time low.

“Although the economy continues to be challenging, Teachers Building Society remains financially strong and we are confident our full year figures will make welcome reading for our members.”