Leeds Building Society has seen a rise in new lending by 61% to £642 million during the first six months of 2011. Pre-tax profit increased over the period by 49% to £26.9 million.
The UK’s fifth largest building society said its average loan to value was 52%.
Residential arrears (2.5% or more of outstanding mortgage balances) reduced to 2.29%.
Ian Ward , chief executive, said: “Leeds Building Society has achieved another excellent set of financial results for the first half of the year and provided more capacity and choice to the UK mortgage market. New lending increased by 61% to £642 million
