More than 5,500 first-time buyers were helped to take their first step into homeownership. Overall, 85% of new mortgages were for homebuyers, with 72% of these supporting first-time buyers.

The society delivered pre-tax profits of £33.6m, helping maintain a strong Common Equity Tier 1 capital ratio, which increased to 17.2%.

Commenting on the latest results West Brom Building Society chief executive Jonathan Westhoff said: “In what’s been a challenging market, our society’s strong performance reflects our clear focus on doing the right thing for our members. Maintaining over £1bn in new lending while increasing our support for first-time buyers shows we’re delivering where it matters most, helping more people buy their first home.”