Darlington sees gross mortgage lending more than double in H1 2021

Darlington Building Society has more than doubled its gross mortgage lending for the first half of this year, reaching a total of almost £90m, as revealed by its latest financial results for H1 2021.

The significant growth is partly thanks to becoming one of a select number of lenders to pilot the government’s First Homes scheme.

Mortgage balances increased by just over £30m in H1, the same as that achieved in the whole of last year.

Some 729 new borrowers joined the society, with the total number of mortgage members rising to 9,217 (compared to 9,138 at the end of 2020).  

Its profit before tax rebounded strongly in this period to £1.8m (unaudited), more than double the profit seen in the full year of 2020. 

The lender also saw an increase in its savings balance by just under £20m.

Andrew Craddock, chief executive at Darlington Building Society (pictured above), said: “The pandemic has underlined the need for businesses to be resilient and flexible in the ways they engage members and meet the needs of staff.

“Our aim is to be as member-focused as possible, as well as growing our reputation as somewhere talented people want to work.”

He added that these results were thanks to its team’s hard work.

“Every single person has contributed to these results, as they focus on providing the best possible service for our members.

“I remain proud and humbled by their dedication and tenacity in the face of everything we have dealt with in the last 18 months.

“I am sure we will continue to go from strength to strength, as this team of mine seems unwilling to fail.”

Darlington provides a range of different mortgage products, including specialist let and BTL. 

The lender also announced that it will donate £60,000 to worthy organisations from the profits generated during 2020.  

County Durham Community Foundation, which administers the 5% fund on behalf of the society, has announced it will make an added donation to bring the total handed out to at least £100,000.

Donations have already been made to a range of charities, including Darlington CAP Debt Centre, Butterwick Hospice, South Tees Hospitals Charity, Hartlepool Special Needs Group, and many others.

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