Yorkshire Building Society has reported an increased overall balance sheet for the first half of 2025, however the lender said increased competition in its core markets of savings and mortgages had impacted levels of growth.
In particular, mortgage balances grew by £0.9bn, which compared to £2bn for the same period last year (to 30 June 2024)
Overall balance sheet growth was £0.4bn, compared to £2.9b for the half-year to end of June 2024.
Pre-tax profits were up to £187.9m compared to £158.1m for half year 2024.
YBS chief executive Susan Allen in her half-year report statement pointed to the fact that so far this year, the lender had provided more than 18,000 mortgages, with nearly 4,000 going to first-time buyers.
“Since launch, our £5k Deposit Mortgage, has helped over 1,400 people into their first home. In February we extended this mortgage to flats, helping even more customers onto the property ladder.
“When stamp duty rates increased in April, we increased our cashback offering for first-time buyers up to £6,250 to help with the added costs of buying a home.”
She added: “In response to updated guidance from our regulators we increased the maximum amount we will lend by £16,000 on average, to help borrowers overcome affordability challenges, at all times ensuring the mortgage is affordable.”
