Leeds announces record mortgage lending

Peter Hill Leeds 2016

Leeds Building Society achieved record gross lending last year.

Its results, published today, show it lent £3.1bn last year, up 15 per cent on the £2.7bn lent the year before.

Over the same period, net lending increased from £1.1bn to £1.4bn.

Operating profit grew 34 per cent to £108.5m last year.

Leeds chief executive Peter Hill says: “Meeting the ever-changing needs of members drives our innovation and we remain focused on helping more borrowers, including those who are not well served by the wider market, as part of increased lending across a balanced product range.

“In addition to our strong offering of competitive mainstream products, we are active in markets including shared ownership and interest-only, where our product innovation has been recognised with industry awards.

“We endorse the Government’s aims to build more homes and are part of initiatives such as Help to Buy, including in London, and I’m pleased we helped more than 9,400 first time buyers purchase their homes in 2015. This accounted for 37 per cent of our total lending by value (33 per cent in 2014), an increase of £252m compared to a year earlier.”