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Leeds BS gross mortgage lending up 31%

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  • 26/02/2014
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Leeds BS gross mortgage lending up 31%
Leeds Building Society increased its gross residential mortgage lending by 31% from £1.65bn to £2.16bn last year, its annual results have shown.

Net lending grew by 43% from £0.7bn in 2012 to £1bn last year which the society confirmed was its best ever performance.

Lending in 2013 was split between mainstream mortgages (69%), buy-to-let (18%), shared ownership (10%), and other categories, including self-build, holiday let and offset (3%).

Chief executive Peter Hill said: “Member numbers, savings balances and residential mortgage lending are at their highest in Leeds Building Society’s long history leaving it well placed for further investment to benefit members and drive the continued and sustainable growth of the business.”

The society’s pre-tax profit rose by 18% to £64.2m up from £54.6m in 2012.

And its membership grew by 71,000 last year taking its member numbers to a record high of 714,000.

Hill said: “As a member owned building society our business model is built on providing security and value for savers and helping more people to buy homes.

“Although the improving economic environment has also seen greater competition in the mortgage market I am confident that our commitment to continued investment and innovation will deliver security, value and an even better service to our members in 2014.”

 

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