View more on these topics

Yorkshire Building Society mortgage lending up 12% to £4.6bn

Yorkshire Building Society

Yorkshire Building Society’s new mortgage lending rose 12 per cent in 2012 to £4.6bn, up from £4.1bn in 2011.

The building society’s annual accounts, published today, show pre-tax profit rose 21 per cent from £129.7m in 2011 to £157.1m.

First-time buyers accounted for 38 per cent of all house purchase mortgages. New lending above 85 per cent LTV accounted for 10.7 per cent of all new lending in 2012, up from 3.3 per cent in 2011.

Yorkshire’s market share rose from 2.9 per cent in 2011 to 3.2 per cent last year.

The society grew its number of new members by 6 per cent, up from 3.3m in 2011 to 3.5m last year.

Yorkshire Building Society chief executive Chris Pilling says: “Our core operating profit remains very strong and gives the group the opportunity to invest significantly as we balance profits with delivering value to our customers.

“We are now embarking on another important phase in our growth. After completing a series of mergers and acquisitions we entered a period of integration while continuing to grow our business. Having consolidated that position, we are now investing in making the most of our expanded capability to enhance our products and breadth of services.”

The society has revealed plans to invest £160m in a five-year programme aimed at improving products and services as well as back-office infrastructure and staff development.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com