The Leeds Building Society has grown sixth-monthly pre-tax profits by 9% to 63.2m, in excess of 4m a lot better than identical period a year ago.
Chief Executive Officer Peter Hill reported record new residential mortgage lending of 2.1bn, up by 10%. He stated: “I’m proud to report another strong performance for that first part of 2017, in a very climate of political and economic uncertainty.
“In the main half 2017 the Leeds Building Society?helped 22,410 a lot more people to offer the home they require, lots of whom do not need had the opportunity to take this method without us. Of such, 5,922 were first time buyers.
“While Bank Base Rate remains for an historic low, we’ve labored to balance the requirements of borrowers and savers and work to pay above average returns. We added over 41,000 new savings members as a consequence of our efforts to further improve our service and provide long-term great value products quick grown timbers . challenging market.
“We paid usually 1.52% to our savers, in comparison to the remainder of the market average of 0.85%, amounting for an annual benefit to our savers of over 70.8m.”?Deposits also grew, using the Leeds Building Society regulatory capital and reserves to a record 952m.
For the near future, Mr Hill said: “”The repercussions of last year’s EU Referendum vote could possibly be felt for a little bit in the future, compounded via the UK General Election cause June.
“House price growth has softened along with the variety of mortgage approvals on the market has remained relatively flat, at one time when lenders can also be working through the detail of extensive regulatory change.
“Despite this outlook, the Society’s strong foundations ensure it remains financially stable and secure, and well-placed to satisfy any challenges that will arise inside remainder of 2017 and beyond.”