In its final results for 2015, the Yorkshire also saw profit before tax fall from £188m to £173m, in what its chief executive called a “challenging and competitive year”.
The lender helped 6,300 first-time buyers onto the property ladder last year, with 37% of house purchase loans made to these borrowers. It said it had distributed lending in ‘a diversified way’ throughout the year by supporting SMEs, registered social landlords and buy-to-let investors.
Chris Pilling, chief executive, said the intermediary market remained a “vital part” of the Yorkshire’s business.
“We have delivered strong levels of lending through our Accord brand during 2015 and expect to continue that this year,” he added.
“We have continued to invest in our systems. During 2016 brokers will begin to see tangible improvements to the mortgage application process which are aimed at making it as easy and simple as possible for them and their clients to do business with us.”
During 2015 Yorkshire BS invested heavily in branch-based technology, which it said would provide its customers with quicker access to advice and decisions.
This included the launch of an online service to enable customers to directly book appointments with a mortgage adviser at their preferred branch location and the ability for borrowers to receive indicative lending decisions online within 10 minutes.
Further technology improvements included its portable mortgage Approval in Principle service to enable customers to switch between branch, telephone and online channels.
Pilling added: “Our significant investment programme, which we launched in 2012, is aimed at further enhancing our systems, products and branch and head office sites and will deliver sustainable benefits for our customers and our people.
“We do not expect the competitive environment to become any less intense this year but we are well placed to face these challenges and make the most of the opportunities in the year ahead. By focusing on our mutual values, we will continue to maintain the right balance between delivering financial strength and security, providing great value and excellent service to our members and investing in the business for future growth and success.”
