Yorkshire BS lends £925m to FTBs

Yorkshire Building Society announced today that its pre-tax profits fell to £80.1m in the six months leading to June 2013, down from £82.8m for the same period in June 2012.

Related topics:  Mortgages
Amy Loddington
25th July 2013
Mortgages

In its interim results, published today, the Building Society's mortgage lending increased slightly from £2.4bn last year to £2.5bn this year but grew much slower than the overall mortgage market.

The society’s net mortgage lending also fell from £523m in June 2012 to £450m this year, with almost 40% of their mortgages going to first-time buyers.

Its percentage of loans going into arrears went up from 1.25% in December to 1.28%.

Yorkshire Building Society chief executive Chris Pilling said:

“Our figures for the first six months of 2013 are very pleasing and reflect our consistent, positive financial performance. Net lending has been solid so far this year and we strongly expect this will increase further in the second half of 2013.

“Our continued financial strength has allowed us to begin the significant investment programme, which we announced earlier this year, to further improve the quality of service we deliver to our members.”

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