August was a record month for mortgage lending and savings deposits at Teachers Building Society.

The Dorset-based mutual saw the amount of mortgage lending rise by 50% year on year to £9.1m, the highest amount of lending in one month in its near-50 year history.

Meanwhile, savings inflows reached a new high last month, with over £10m being deposited by customers, a year on year increase of 30%.

James Bawa, chief executive of Teachers Building Society, said: “We’re delighted with our August figures as the whole team has been working hard to deliver our plan for growth, alongside the truly personal service that we have a reputation for providing.

“The years immediately following the credit crunch weren’t easy, but we set a course for continued strength and took a prudent approach while the waters were stormy.

“Now that the outlook is brightening, we’re seeing some normality return to the mortgage and savings markets and I’m very proud of this result.”