Leeds BS mortgage lending hits record £3.1bn

Leeds Building Society's new residential mortgage lending increased by 15% to £3.1bn in 2015, taking gross lending in the past five years to almost £11bn.

Related topics:  Mortgages
Rozi Jones
24th February 2016
leeds building society

In its full year results, the Society reported net residential lending of £1.4bn while savings balances grew by £751m to £9.9bn - another record high.

Operating profit rose by 34% to a record £108.5m, compared to £80.9m in 2014.

Leeds increases total assets by 11% to £13.5bn.

Leeds Building Society Chief Executive Officer, Peter Hill, said:

“We achieved this by providing good value products, despite the historically low interest rate environment. Increasing our lending led to record levels of profit, which enabled us to increase our capital and reserves and invest further in the long-term financial strength of the Society.

“Meeting the ever-changing needs of members drives our innovation and we remain focused on helping more borrowers, including those who are not well served by the wider market, as part of increased lending across a balanced product range.

“In addition to our strong offering of competitive mainstream products, we are active in markets including Shared Ownership and Interest Only, where our product innovation has been recognised with industry awards.

“We endorse the Government’s aims to build more homes and are part of initiatives such as Help to Buy, including in London, and I’m pleased we helped more than 9,400 first time buyers purchase their homes in 2015. This accounted for 37% of our total lending by value (33% 2014), an increase of £252m compared to a year earlier."

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