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Yorkshire BS lifts market share to 3.1 per cent in H1

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  • 29/07/2021
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Yorkshire BS lifts market share to 3.1 per cent in H1
Yorkshire Building Society has grown its market share to 3.1 per cent with gross lending of £5.9bn in the six months to 30 June.

 

The society provided 49,000 residential mortgages in the first half, compared to 540,000 for the full-year 2020.

The lender’s performance upped its market share to above three per cent, compared to 2.8 per cent as at 31 December 2020.

Yorkshire BS chief executive Mike Regnier (pictured) said: “Positive market conditions, combined with investments in capability and capacity, have resulted in multiple record months of mortgage applications and completion values.”

The total mortgage balance reached £41bn, with the average loan to value 49 per cent, as of 30 June 2021.

The society’s improved net interest margin of 1.05 per cent in the first half, compared to 0.95 per cent in H1 2020, was predominantly driven by mortgage trading.

Profit before tax was £147.7m for the six months, higher by 119 per cent compared to £67.3m in H1 2020.

The lender granted 40,424 payment deferrals linked to the pandemic, of which 99.5 per cent have resumed repayments.

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