This was 42% higher than the same period a year earlier, resulting in a 10% growth in its mortgage book to £1.75bn. Further, the mutual retained more than 70% of its mortgage customers.
Some 13 accounts in its mortgage book were in arrears of 12 months or more, up from six at the end of 2024. Cambridge Building Society said that despite this small increase, overall arrears levels remained low and below the market average.
The mutual delivered a profit before tax of £10.8m, down from £11.4m the year before. While its chair, John Spence, said Cambridge Building Society maintained a profit before tax exceeding £10m, a level not seen before the last five years, it said the decline was due to its profit stabilising, having previously benefitted from positive financial market returns.
Spence said the mutual managed to repay the government’s Term Funding Scheme earlier than planned, and with capital reserves of £141.3m and liquidity assets of £356m, it was “well-placed” to sustain its ambitions.
Peter Burrows (pictured), chief executive of The Cambridge, said 2025 was a record-breaking year for the mutual, with “exceptional customer satisfaction ratings, continued strong financial performance, and more money channelled to good causes in our community than ever before”.
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He added: “It was a fitting way to celebrate our 175th anniversary.”
Burrows said its core purpose of helping people have a home “has never been stronger,” and its retention rate reflected the trust members had in the mutual.
“Being a force for good remains at the heart of everything we do, and last year was no exception – with more than £175,000 donated to good causes and £1m committed to Greater Cambridge Impact to tackle inequality in our city region over the next decade. We believe that there’s no better way to honour our 175-year legacy than by investing in the future,” he added.
