Swansea Building Society completed £117.5 million in gross mortgage lending during 2025, up from £111.0 million the previous year, as market conditions showed early signs of improvement for mortgage customers.

With interest rates easing towards the end of the year and expectations of further reductions in 2026, the Society said confidence was gradually returning to the mortgage market.

Against this backdrop, mortgage demand remained resilient throughout 2025, supported by Swansea Building Society’s relationship-based, locally delivered approach to lending.

Performance during the year was led by the Swansea team, which incorporates both the Swansea and Mumbles branches. Together, the two branches completed more than £48.0 million in mortgage lending, making them the strongest performing team across the Society.

The Society said the results reflected its long-established face-to-face relationship banking model, with lending decisions made locally by experienced, qualified mortgage professionals working closely with customers and mortgage brokers.

This approach continues to support a broad range of borrowers, including first-time buyers, home movers and those remortgaging, particularly during periods of economic uncertainty.

At individual branch level, Mumbles branch manager Tony Rees recorded the highest mortgage completions across the Society in 2025, totalling £20.0 million.

Rees has been based at the Mumbles branch for more than three years and manages mortgage relationships across Swansea West and Gower.

Swansea branch manager David Osterland achieved the second highest level of completions, with £18.3 million in gross mortgage lending.

Osterland was appointed to the role a year ago after relocating from the Society’s Cowbridge branch and has since returned to his home city of Swansea.

The Society also pointed to recent changes within its Swansea-based relationship team, which have strengthened customer support and service capacity.

As a result, both the Swansea and Mumbles branches recorded their highest ever annual growth in mortgage balances, since opening in 2019 and 2010 respectively.

Commenting on the results, Alun Williams (pictured), chief executive of Swansea Building Society, said: “Our results in the Swansea area in 2025 are testament to our face-to-face relationship banking business model, where customers can call into one of our branches and meet a qualified mortgage professional who can help them with their mortgage requirements.

“Looking ahead, our Society expects continued demand for mortgage services. On the back of the growth achieved in 2025, we plan to recruit additional mortgage-qualified managers and managers’ assistants during 2026, further reinforcing our commitment to accessible, in-branch expertise.”