Darlington doubles mortgage lending in H1
Gross mortgage lending for the first half of 2021 was just under £90m at Darlington Building Society, more than double that achieved in the first half of 2020.
Mortgage balances increased by just over £30m in the first half of 2021, the same as that achieved in the whole of 2020.
Savings balances increased by just under £20m, more than seen in the whole of 2020 and the number of members increased by just under 900, growth of 1% in the first half of 2021.
Profit before tax rebounded in the first half of 2021 to £1.8m (unaudited), more than double the profit for the whole of 2020.
In the first six months of 2021, 729 new borrowers joined the society as the total number of mortgage members rose to 9,217 (9,138 at the end of 2020).
Andrew Craddock, chief executive of Darlington Building Society, said: “The pandemic has underlined the need for businesses to be resilient and flexible in the ways they engage members, and meet the needs of staff.
“Our aim is to be as member-focused as possible, as well as growing our reputation as somewhere talented people want to work.
“Every single person has contributed to these results, as they focus on providing the best possible service for our members.
“I remain proud and humbled by their dedication and tenacity in the face of everything we have dealt with in the last 18 months.
“I am sure we will continue to go from strength to strength as this team of mine, seems unwilling to fail.
“And the net result is a service to our members that is second to none, whether they be saving for the future or have realised a dream to own their own home.”