West Brom Building Society has delivered a strong annual performance, completing over £1 billion of new home loans.
More than 5,500 starters have been helped to take their first step towards owning their own home. In total, 85% of new mortgages were intended for home buyers, with 72% of these supporting first-time buyers.
The association recorded a pre-tax profit of £33.6 million, maintaining a strong Common Equity Tier 1 capital ratio, which increased to 17.2%.
Comment on the latest results West Brom Building Society Chief Executive Jonathan Westhoff said: “In what has been a challenging market, our society’s strong performance reflects our clear focus on doing the right thing for our members. Maintaining more than £1 billion in new lending and increasing our support for first-time buyers shows that we are delivering where it matters most, helping more people buy their first home.”