Yorkshire Building Society reports profit as mortgage book grows

Yorkshire Building Society has reported a pre-tax profit of £76.5m for the first six months of 2019 as it increased its total mortgage balances to £37.9bn. Overall the society advanced 3,464 mortgages to first-time buyers during the six months to 30 June - up from 2,787 during the same period in 2018. In total the Yorkshire completed 21,981 mortgages, again an increase on 2018 (20,058), as it achieved gross lending of £4.0bn and net lending of £1.1bn.

Mike Regnier, chief executive of Yorkshire Building Society, said: “I’m pleased to announce the Society has made a strong start to 2019.

“We have continued to focus on our core purpose of helping people to secure and maintain a place they call home, to build financial resilience and to do so in a way that maintains the Society’s long-term financial stability.

"We’ve been doing this for 150 years, but it’s particularly important at a time when many people are facing very real challenges such as housing affordability, a decade of low interest rates in the savings market and passing wealth between generations.

“Our robust profits and strong financial health are a reflection of our disciplined approach, which enables us to deliver the excellent service our members rightly expect, as well as the flexible, competitive products which enable our members achieve their financial goals."

Yorkshire Building Society provides a range of savings accounts, insurance products, mortgages and loans and throughout the UK.