Newcastle ups mortgage lending by 46% in 2016

Ryan Bembridge

February 24, 2017

Newcastle

Newcastle Building Society increased its gross mortgage lending by 46% to £496m in 2016.

The society saw its profit jump by 50% in the process to £8.1m, up from £5.4m the year before.

Andrew Haigh, chief executive of Newcastle Building Society, said: “We are very pleased with the progress we made last year.

BBA – February mortgage lending up year-on-year

“The increase in profit reflects the impact of the investment to date and the hard work of our staff, and enables us to continue investing for the benefit of our members and the region as a whole.

“From great employment and development opportunities for local people, to continuously improving digital and branch customer service, and our commitment to growing our community support both through funding and staff volunteering, Newcastle Building Society is connecting people in the North East with a better financial future.”

The group created 118 jobs last year, while it launched Newcastle Building Society community saver accounts in a bid to create a legacy of funding for charities and communities in the North East.

Enter your e-mail address to receive updates on this topic straight to your inbox

* indicates required
Send me news alerts on: