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Yorkshire Building Society reports stable mortgage lending in H1

Ryan Fowler

July 23, 2020

YBS restrictions

Yorkshire Building Society saw its mortgage balances remain flat in the first half (H1) of 2020, according to its latest figures. 

The society advanced 3,002 mortgages to first-time buyers and completed 31,384 mortgages. Mortgage balances remained flat at £38.0bn (31 December 2019: £38.0bn).

The society helped its borrowers to stay in their homes, enabling customers to take 37,307 mortgage payment deferrals.

Mike Regnier, chief executive of Yorkshire Building Society, said: “From the very beginning, our response to COVID-19 has been to focus on the key priorities of keeping members in their homes, making sure their savings are secure and accessible, and looking after our colleagues’ safety and wellbeing.

“Our mutuality is important in these challenging times, as it enables us to take an approach which puts our customers, colleagues and communities first.

“For borrowers worrying about meeting their mortgage payments, we are supporting them with a variety of solutions, including mortgage payment holidays.

“In terms of financial results, I’m pleased to report that our 2020 half-year performance illustrates that our prudent strategy over the longer term has enabled us to weather the challenging economic environment and impacts of COVID-19.

“Our balance sheet has stayed strong, our statutory and core profits remain healthy and we retain strong levels of capital and liquidity.”


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