Leeds BS reports mortgage lending up 29% in H1

Leeds Building Society has helped more borrowers than ever before as it reports strong interim results.

Related topics:  Mortgages
Amy Loddington
6th August 2014
Mortgages

'Competitive and innovative' mortgages helped the Society to complete a record number of home loans and the business successfully managed the introduction of tighter controls on mortgage lending under the Mortgage Market Review (MMR).

New residential mortgage lending increased by 29% to £1.19bn (£920m to June 2013), significantly above their market share. Net residential lending of £446m (£424m in 2013), was also a new record.

Leeds Building Society Chief Executive Peter Hill said:

“New residential mortgage lending increased 29% to £1.19bn (£920m to June 2013), significantly above our market share2 and we made more home loans than ever before.

“In the first half of 2014 we helped more than 3,100 First Time Buyers purchase homes, accounting for 31% of our total lending and were active in higher Loan to Value lending, including through the Government’s Help to Buy equity scheme.

“Our unique Welcome Mortgage won awards for innovation following its launch in 2013 and it has continued to receive industry accolades so far in 2014.

“The Society’s well-established affordability model helped to minimise any impact of the MMR regulatory changes, the biggest shake-up of the mortgage industry in a decade.

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