"Savings and mortgage balances, membership numbers and assets are all at record levels as we continue to grow sustainably "
Leeds Building Society has recorded record profit before tax of £120.9m as well as net mortgage lending of £1.8bn, with total mortgage balances reaching £15.2bn, an increase of 13% on the previous year.
Leeds lent to 13,000 first-time buyers over 2017, and also increased savings balances by a record £1.9bn to over £13bn.
Leeds CEO Peter Hill commented: “Savings and mortgage balances, membership numbers and assets are all at record levels as we continue to grow sustainably and invest for the long-term benefit of the Society."
Newcastle Building Society has recorded an 8% rise in gross residential mortgage lending to £535m while net residential lending was up 11% from £195m to £220m.
Newcastle helped over 1,000 first time buyers onto the property ladder in 2017, a 33% increase on the previous year, with more than a quarter of these choosing to buy in the North East. The Society also helped over 500 self-employed borrowers buy their home.
Newcastle Building Society recorded a 62% increase in profit before tax up from £8.1m to £13.1m.
Skipton Building Society increased group gross mortgage lending by 12.8% to £4.5bn and its mortgage balances grew by £1.3bn to £16.8bn, a growth rate of 8.3%.
Skipton recorded a 19% increase in group profit before tax to £200.1m and a 9% increase in underlying profit before tax to £165.7m.
David Cutter, Skipton’s Group Chief Executive, said: “Today’s results show that 2017 was another year of strong performance for Skipton Building Society, and further demonstrated that our 164-year-old core purpose of helping more people into homes and helping people save for their life ahead is still as relevant today as it was when we were founded.
"In 2017 we enabled more people to save for their future and finance their own home than we ever have before. We were the first, and to date only, financial services provider to launch a cash Lifetime ISA, enabling 50,590 people to invest in their future by saving for their first home or for their life ahead."
