The Yorkshire mutual boasted gross mortgage lending of £1.5bn in the first six months of 2014, up 34% on the same period last year.
This helped them to pre-tax profits of £90m for this period, a huge increase on the £28.3m recorded in 2013. The mortgages and savings divisions accounted for £51.3m of this profit.
Skipton said lower funding costs and a better margin earned on higher mortgage balances had contributed to this figure.
Net residential mortgage lending amounted to £0.6bn during this half-year reporting period.
Group chief executive David Cutter said: “The Society has continued to make good progress in growing its customer base, showing above-market growth in both its mortgage and savings balances. It has also increased its financial strength with profits and capital further improved, providing current and future members with the reassurance that they are dealing with a solid financial institution with a bright future.
“Significant investment continues to be made in the growth and development of the Society, the products and services we provide, the people who make Skipton what it is, and the communities in which we operate.”
Skipton subsidiaries Connells and HML also posted profits in the first half of the year. The estate agency chain increased its pre-tax profits by 85% to £42.6m due to increasing movement in the housing market.
Mortgage administration firm HML posted a £200,000 profit before tax but has since been sold by the mutual, subject to regulatory approval.
