Yorkshire Building Society’s gross mortgage lending came to £5.2bn in the first six months of the year, a jump from £4.2bn last year.
According to Yorkshire Building Society’s latest results, the growth in gross mortgage lending was due to “carrying a larger pipeline of mortgage applications into the year” as well as “capturing a larger share of the market in 2024”.
The firm said that the higher net mortgage lending was due to a rise in completions, with net lending coming to £2bn, compared to £700m in the same period in 2023.
Yorkshire Building Society’s gross mortgage lending market share came to 4.8%, up from 3.9% at the end of last year.
The company also reported a growth in mortgage balances of 4.3%, compared to 1.5% last year. Mortgage balances came to £48.8bn during the period.
The firm said that it had provided 23,000 residential mortgages in the period, a rise from 21,000 in the same period last year.
Yorkshire Building Society said that one in three new mortgages was offered to a first-time buyer.
The lender noted that there was a rise in mortgage arrears, coming to 0.49%. However, this is lower than the industry average of 0.97%.
Yorkshire Building Society’s statutory profit before tax came to £158.1m, a fall from £180.6m in the same period last year.
Susan Allen (pictured), chief executive of Yorkshire Building Society, said: “Over the first six months of the year, I have seen first-hand a clear commitment from our colleagues to deliver on our purpose. We have continued to offer above-market average savings rates, launched new, innovative products to help first-time buyers and delivered a solid financial performance.
“I’m delighted that we have been able to achieve all this and continue to invest to improve the customer experience for our members, with a particular focus on our digital channels, which together with our national network of branches has played a part in increasing the society’s overall net promoter score to +64 (2023 H1: +63).”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
