Gross residential mortgages at Skipton reached the highest levels the group has ever seen.
Gross residential mortgage lending at Skipton reached £4 billion – the highest in the group’s history – with 23,666 mortgages or remortgages completed, its annual results have revealed.
Of the total mortgage completions 4,327 of those were first-time buyers, with buy-to-let accounting for 14.8% of the group’s gross lending during the year.
David Cutter, chief executive at Skipton, said: “Looking after people’s savings and enabling home ownership is at the very heart of what the society does.
“I firmly believe that our long term focus of being there to help people plan for their life ahead is resonating with our members.”
The overall mortgage book at Skipton grew by £1.3bn to £15.5bn with an annual growth rate of 9.1%.
The overall group profit after tax was reported increased by 14.5% to £129.8m.
The report also announced the closing of two mortgage portfolios currently in run off – Amber Homeloans and North Yorkshire Mortgages – both of which are seeing improved levels of arrears.
