According to its latest annual results, around £17m gross new lending first-time buyers and £32m for self-build mortgages.
It said that its residential mortgage book grew by £42m in the year, which compares to £34m growth in 2020.
Its mortgage lending book overall has grown five per cent to £616m, which compares to £584m in 2020 and 5.5 per cent growth.
Its profit before tax came to £3.2m which it said was mainly due to “robust levels of good margin mortgage lending in a buoyant housing market underpinned by various government initiatives”. This compares to a profit before tax of £700,000 in 2020.
The mutual’s mortgage members fell from 9,138 at the start of the year to 9,055 at the end of the year.
It said it has completed 780 new mortgage advances, helping 1,350 members achieve home ownership.
Darlington BS’ average loan to value (LTV) came to around 52 per cent LTV in 2021, which compares to around 54 per cent in the prior year.
The majority of its mortgage book fell in the 30 to 60 per cent LTV category at around 47 per cent. Approximately 34 per cent of its mortgage book was in the 60 to 80 per cent LTV category and around 14 per cent was up to 30 per cent LTV.
The mutual added that it had retained 65 per cent of mortgage maturities on new products, which is in line with the previous year
The value of arrears of over three months has gone up from £1.7m in 2020 to £2.3m in 2021. The number of borrowers in arrears has staid stable at 22.
The report added that it had an impairment charge of £16,000 in 2021, which compares to £201,000 in 2020.
The mutual also reported that there were no properties in possession and properties repossessed. It added there were no mortgage losses.
Darlington BS said that there were 52 accounts at the end of 2021 with balances outstanding of £3.6m, compared to 55 accounts at the end of 2020 with balances outstanding of £3m.
In its outlook it said that inflationary pressures in 2020 had heightened the cost of living and added pressure to the affordability of mortgage payments.
Darlington BS said that it would “continue to engage with and appropriately support mortgage members where needed” and it remained confident in its lending underwriting process ensure quality mortgage lending.
It continued that “significant competition” in the mortgage market would persist through the year.
