Darlington Building Society reported record gross mortgage lending of £234m in 2025, as the mutual grew lending, deposits and profit in a year it said was shaped by steady expansion rather than a push for volume.
The society’s latest annual results show gross mortgage lending rose 58% year on year, while net lending reached £101m. Retail deposits increased to £939m from £853m in 2024, core operating profit before tax rose to £3.7m from £3m, and total assets passed £1bn for the first time, reaching £1,025m.
The figures point to a lender that has continued to build scale through specialist activity and intermediary business, while keeping a close focus on service and controlled growth.
Darlington said its recent performance reflected investment over several years in people, systems and distribution, helping it expand capacity without moving away from manual underwriting for more complex cases.
A notable part of the lending story was the role played by first-time buyers, who accounted for 40% of gross new lending in 2025.
Andrew Craddock (pictured), the Darlington’s chief executive, said: “What is particularly pleasing about 2025 is the way we were able to overcome so much volatility in the global economy to stay true to our core purpose of supporting people into home ownership.
“It is a source of great pride that 40% of the record figure for gross new lending in 2025 was supporting first-time buyers to achieve their dreams of getting onto the property ladder.
“That has been central to our ethos for 170 years, and the fact that we have broken the Society’s record in such a crucial area of the business is testament to the hard work and commitment of our colleagues.”
Darlington has also continued to develop its intermediary proposition over the past 12 months, expanding both its business development and underwriting teams and introducing three broker service commitments centred on speed, access and consistency.
That has been supported by product changes including foreign currency mortgages, limited company buy-to-let products and a broader approach to skilled foreign national borrowers. The society said this has helped reinforce its position in specialist areas including self-build, later life and more complex residential lending, where broker advice is often central to the process.
Alongside mortgage growth, Darlington reported a strong savings performance. It said competitive pricing helped it outperform the wider market, with an average savings rate of 3.38% paid up to November 2025, compared with a market average of 3.05%. Over the past three years, that amounted to an additional £12m in interest paid to savers.
Customer satisfaction also remained high, with the society reporting a Net Promoter Score of +92.3, materially ahead of the building society average.
Rachel Court, chair, said: “We continue to build our financial strength with measured growth and sound profitability. Combined with continued progress and embedding our strategic investment programme, this will underpin our success and sustainability for many years to come.”
The results come in a milestone year for the mutual, which marked its 170th anniversary in 2025. During the year, total assets growth also moved the society to 19th place among the UK’s 42 building societies. Darlington added that it had now passed £1m in community donations through its pledge to contribute 5% of profits to local causes.
Craddock is due to step down at the society’s AGM, ending a period in which Darlington has increased its scale while deepening its presence in specialist and broker-led lending.
He said: “It has been an immense privilege and honour to work with so many talented and dedicated colleagues, serving the community in such a special part of the country.
“I am really proud to have seen our Society grow, prosper and mature, and am delighted to be leaving the Society in such robust health.”
