Record mortgage lending and savings growth has boosted performance at Leeds Building Society, which has warned of inaction on tackling the UK's housing crisis.
The historic mutual, which operates 50 branches, saw gross mortgage lending rise from £4.4bn to £5bn in 2022 as annual net savings inflows climbed from £1bn to £2.2bn during the year. It meant pre-tax operating profits rose to £220.5m.
In its annual results, the society said it was now the hardest time to afford a home in its 148-year history and pointed directly to the upheaval caused by the Government's mini Budget as having caused other lenders to temporarily pull out of the market - a move that meant its own lending to first time buyers grew and accounted for 3.4% of the market, around three times its normal share.
