According to Leeds Building Society, it backed around 19,400 new mortgages, with around 9,600 being for first-time buyers. The latter is up from 7,800 in the same period last year.
This represents nearly half of all new lending during the period, the firm said.
It added that it had a record-breaking March, with 2,700 first-time buyer completions.
Leeds Building Society attributed this growth to “innovative mortgage products” such as Income Plus and Reach, which allow people to “overcome affordability challenges”.
Arrears of three months or more during the period came to 0.56%, which is an improvement on 0.61% at the end of last year.
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The firm said it had been investing in its “digital capability”, which would make customer and broker journeys “easier”, and is making “good progress and transforming its core IT infrastructure”.
It pointed to the number of days from mortgage application to offer improving from 13 at the end of last year to 11 currently.
Leeds Building Society recently cut its stress test in June, following guidance from the Financial Conduct Authority (FCA), with borrowers able to access between £9,000 and £34,000 more post-change.
The society’s profit before tax came to £104.4m during the period, which is up from £86.4m last year.
Competition in savings and mortgages high but Leeds BS has ‘real confidence’
Annette Barnes (pictured), Leeds Building Society’s interim CEO, said: “I’m proud of what we have delivered as a society in the first half of 2025. I’m grateful to all of our colleagues, our members, and our intermediary partners for their contribution to our continued success, particularly in our 150th year.”
She said that during the period, it had grown its membership to over one million, which was a “significant milestone that reflects continued confidence in our mutual model”.
“We’ve remained focused on our purpose of putting homeownership within reach of more people, generation after generation, by helping 9,600 people realise the dream of buying their first home,” Barnes added.
She said a key issue for the mutual had been on the value of cash ISAs, which “provide certainty for people in retirement, those buying their first home, or those saving for major life events”.
“I was reassured to hear the Chancellor’s commitment to supporting the right balance between saving and investing to encourage economic growth in her Mansion House speech.
“We have supported calls for an industry-led campaign to promote the value of investing and believe this will be an important step in improving public awareness. People should have the knowledge and confidence to make the right decisions for them and their circumstances,” Barnes noted.
She continued on to say that she understood that ISA reform was not completely off the table and that it would work with the government and the wider sector to “highlight the importance of cash savings and giving people a fair choice in where they keep their money”.
Barnes added that it had donated a share of £150,000 to five organisations that aligned with the society’s “aim of supporting vulnerable people in need of a safe and secure home”.
“Whilst the savings and mortgage markets have become increasingly competitive, our strong and consistent performance, coupled with our accomplished team, gives me real confidence in both our short-term future and in our long-term vision to guide the society forwards for generations to come,” she concluded.
