According to Yorkshire Building Society’s half-year results, lending volumes in the early part of 2024 were “supported by favourable market conditions”, but this moderated in the second half of the year as the base rate started to fall and “competition intensified”.
“This more measured pace of growth has continued in the first half of 2025. The society has maintained a disciplined approach to lending and pricing, with our market share remaining resilient, reflecting the continued strength of our propositions and our commitment to sustainable growth,” the report said.
Yorkshire Building Society said the gross mortgage lending market share came to 2.9% during the period, down from 3.8% in the prior quarter.
The firm said its mortgage balances grew by 1.7% to £50.6bn, which compares to 4.3% growth to £49.7bn in the same period last year.
The firm said it had provided more than 18,000 mortgages, with almost 4,000 going to first-time buyers. This is slightly down from 23,000 in the same period last year.
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Yorkshire Building Society added that its £5k Deposit Mortgage, which was launched in 2024, has helped more than 1,400 people onto the property ladder.
It added that since the Financial Conduct Authority (FCA) updated guidance earlier this year around stress testing, the firm has increased the maximum amount it will lend by around £16,000 on average.
Yorkshire Building Society said its statutory profit before tax stood at £187.9m, which is an increase from £158.1m.
Susan Allen (pictured), chief executive of Yorkshire Building Society, said: “As a building society, all the profits we make are reinvested for the benefit of our members and customers, into providing products that overcome real-life challenges, supporting our communities, and improving our society.
“We are determined to help more people to find a place to call home and build their financial wellbeing, whilst deepening our relationships with our members and customers, and standing up for them on issues that matter, like keeping the current cash ISA limit.”
Allen continued on to say that Yorkshire Building Society had begun its “biggest ever investment programme: from improving processes and digital functionality to developing innovative products, we are driving shifts in the areas that make the most difference to our members and customers”.
She said: “Our plans will ensure we grow the business safely and sustainably, protecting members’ interests and investing in our society. As we do this, we will help even more people build financial resilience and find a place to call home.
“While we can expect economic uncertainty to persist, our strong levels of capital and liquidity, and investment in our future capabilities, mean we will continue to support our members, customers, their families, and our communities, now and in the future.
“I am proud to lead such a strong and purposeful business with a clear focus on delivering value to our members. My team and I remain committed to helping members and customers achieve their life goals, and ensuring the society provides real help with real life for generations to come.”
