Newcastle posts solid results

Ryan Fowler

March 1, 2018

Newcastle Building Society has reported a pre-tax profit of £5m on the back of growth across all its business units including mortgages.

Gross residential mortgage lending was up by 8% to £535m whilst net residential mortgage lending increased by 11%.

Over 1,000 first-time buyers used the society representing a 33% increase on 2016.

Andrew Haigh (pictured), chief executive at the Newcastle, said: “We’re very pleased with such a strong set of results which are the foundation for delivering our role as the North East’s building society.

“We are not just about encouraging people to save and plan their finances, and helping them to own their home, we believe it is also vitally important to support our communities in making positive changes, providing varied and meaningful career opportunities, and a great place to work for people across our region.”

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