COVENTRY Building Society has announced record profits during the six months ending June 30.

The society's share of the mortgage market was also a record with net mortgage lending equivalent to 45% of the UK market.

Profit before tax increased by 17% to £52.8m during the period and mortgage assets increased by £1.8bn to £21bn.

New mortgage lending increased by 33% to £2.5bn and net mortgage lending was £1.3bn, equivalent to 45% of all net mortgage lending in the UK.

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