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Leeds BS mortgage lending jumps 10%

  • 04/08/2017
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Leeds BS mortgage lending jumps 10%
Leeds Building Society saw its gross mortgage lending grow 10% to more than £2bn in the first half of the year.

The mutual credited the growth in lending for driving after-tax profits up by 9% over the first six months of 2017 to £47.1m.

“Our strong lending growth was not at the expense of quality as the average loan to value on new lending reduced to 64% (from 66% in June 2016),” the chief executive officer Peter Hill (pictured) said.

“Residential arrears on the book also reduced to 0.84% in June 2017 (from 1.24% in June 2016,” he added.

Leeds leapt two places in the mortgage lending league last year, according to data from the Council of Mortgage Lenders (now UK Finance).

It showed the mutual lending £4bn with a (1.6% market share) which it remains on course to equal this year.

Hill added: “To support borrowers and our intermediary partners we’re constantly reviewing and refining our lending criteria to improve their experience during application and provide the best possible service.

“In the first half of 2017 we helped 22,410 more people to have the home they want, many of whom would not have been able to take this step without us. Of these, 5,922 were first time buyers.”

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