In its annual report, the lender showed that £25.79m was advanced to borrowers to buy, refinance or improve their properties.

Total mortgage balances at the end of the year amounted to £147.49m compared to 2024: £140.80m.

Mortgage balances increased in the year by £6.69m (2024: £14.22m), an increase of 4.75%. And the society posted a pre-tax profit of £340,000.

Commenting on the results Earl Shilton chairman Alex Robinson  said that although our profits were less than last year, the society had seen an encouraging start to mortgage growth this calendar year.

He pointed out that UK mortgage advances for the 2024 calendar year still remained significantly below the levels in 2022.

“Despite all this, both our savings and mortgage teams have been busy, although not as busy as last year. We plan to refine our prudent bespoke lending policy and will closely monitor the market and mortgage arrears.”

Looking forward, Earl Shilton BS chief executive Scott Devereux (pictured) said: The broader economic environment remains uncertain as we move into 2025-26 along with competition in both the mortgage and savings markets remaining intense.

“Pricing pressure is expected to continue as providers compete for quality lending and stable funding, we expect modest economic growth and continued cost-of-living challenges to shape member behaviour.

He added: Despite these headwinds, the society is well positioned to respond with resilience and clarity of purpose. Our strong capital base, loyal member support, and prudent approach to risk management give us confidence in our ability to navigate market volatility.”