Yorkshire Building Society has announced solid financial results for 2025, a year in which it opened nearly 480,000 savings accounts and provided more than 38,000 new residential mortgages.
The Society described it as a defining year, when it grew its mortgage and savings balances while sharpening the meaning of its purpose, Real Help with Real Life, to set a clear path for the future.
Despite a lower interest rate environment and four rate reductions in 2025, its savers benefited from rates that were nearly 20% higher than the rest of market average, equating to an extra £313m in interest paid. This means the Society’s savers have benefited from nearly £1.5bn in extra interest in the last five years alone.
The Society, which has more than 3 million members and customers, helped more people find good homes, with nearly 30% of its residential mortgages going to first-time buyers. Its groundbreaking £5k Deposit Mortgage – which was extended to flats last year – has now helped more than 2,000 people into their first home. When stamp duty increased last April, the Society helped homebuyers cover the costs by offering a mortgage with up to £6,250 cashback.
More than 1,400 aspiring homeowners began putting money away for a deposit in a First Home Saver account, while nearly 11,000 opened a £50 Regular Saver with an attractive rate to encourage people to start a healthy saving habit. The mutual dug deeper into the benefits of regular saving, supporting more research showing it improves mental wellbeing and life satisfaction, regardless of income.
The Society’s Net Promoter Score - which measures customer satisfaction – increased again and it continued to invest significantly in people and technology, to help it grow and be future ready.
2025 highlights:
- 478,000 savings accounts opened (2024: 537,000)
- Savings balances increased to £53.1bn (2024: £52.0bn)
- Paid an average savings rate of 3.66% (2024: 4.21%), 0.62 percentage points above the market average (2024: 0.90pp), delivering an additional £313.0m in interest to members (2024: £430.2m)
- Mortgage balances grew by 4.4% (2024: 6.2%) to £51.9bn (2024: £49.7bn)
- Provided 38,400 new residential mortgages (2024: 41,000) with 11,000 going to first-time buyers (2024: 9,700)
- Gross mortgage lending increased to £9.9bn (2024: £9.7bn)
- Net Promoter Score +66 (2024: +64)
- Core operating profit[6] £426.7m (2024: £345.7m)
- Profit before tax was £377.9m (2024: £383.7m)
- Net interest income rose to £870m (2024: £736m), resulting in a higher net interest margin of 1.32% (2024: 1.16%)
- Strong income growth was reflected in an improved cost to core income ratio of 48% (2024: 51%)
- Common Equity Tier 1 ratio increased to 18.8% (2024: 18.1%)
Alongside the annual report and accounts, the Society will also publish its 2025 Sustainability Report, which outlines the refinement of the Society’s purpose and progress against its sustainability focuses. With sustainability now governed by the Board Environmental and Social Purpose committee, chaired by Janet Pope, the Society made a key commitment to bring forward its Net Zero target for Scope 1 and 2 emissions from 2035 to 2030. Planned actions include replacing gas boilers with electric alternatives and expanding on-site solar energy generation. As a major employer in Yorkshire, the report also highlights the Society’s investment in employability and skills, with the mutual supporting over 1,000 Year 10 students from Bradford schools through Work Immersion Days and other events in 2025, alongside supporting 1,400 people through Building Skills for the Future, an employability programme delivered across the country through the Society’s partnership with FareShare.
Susan Allen, Chief Executive of Yorkshire Building Society, said:
“2025 was a defining year for us. We invested almost £90m in making the Society stronger for the future and improving our customers’ experience. We grew our mortgage and savings balances and we reaffirmed our Purpose.
“Our Purpose is the reason we exist. We’re here to make a real difference – for our members and customers, their families and their communities. Real Help with Real Life means members coming together to make good homes possible for more people.
Savings
“It starts with our savers. Our members know their money is working hard for them and being used to make a difference - making good homes possible for more people.
“In 2025 our rates were nearly 20% higher than the market average, which means our savers gained an extra £313m. We’ve returned almost £1.5bn in extra interest to savers in just five years.
“We rewarded loyalty and spoke up for members when it mattered. Alongside other building societies, we urged the government to think carefully about the impact of cutting the Cash ISA allowance dramatically. We’re disappointed it was reduced at the Budget but pleased the government listened and that over 65s were protected.
“Our First Home Saver continues to help customers overcome what we know is one of the biggest barriers to owning a home – saving a deposit - and in 2025 nearly 11,000 people opened our £50 Regular Saver, offering an attractive rate to help them start or keep a saving habit. Research we support continues to show that saving even a small amount promotes peace of mind and helps protect people from falling into financial difficulty.
Mortgages
“We’re going further to make good homes possible for more people, building on what we’ve started and finding new ways to help – because good homes are about more than bricks and mortar. They are where futures are built, families grow and communities thrive.
“In 2025 we made home ownership more accessible, extending our ground-breaking £5k Deposit Mortgage to flats and helping overcome affordability challenges by offering higher loan-to-income and cashback mortgages. We’re campaigning for change in the housing system - to fix challenges like affordability and supply – supporting responsible landlords and helping customers understand how to make their homes more energy efficient to save on bills.
Communities
“As one of the UK’s biggest mutuals we play a key role in strengthening financial resilience in the wider community through programmes and partnerships that support people to find work and improve their financial education and wellbeing.
“Our partnership with FareShare has raised almost £900,000 so far and equipped more than 2,000 people with skills to find work.
“Citizens Advice advisers are in 40% of our branches and helped 5,600 people – customers and non-customers alike – in 2025 alone, unlocking an estimated £3.8m in potential additional income.
“And four Bradford charities that support skills and employment are sharing £1m from the Yorkshire Building Society Charitable Foundation.
Looking forward
“This year will bring challenges, for the economy and for our customers, and the cost of living is likely to stay high. That’s why our renewed Purpose matters more than ever.
“With a solid financial position, a clear strategy and committed colleagues, the Society is well-equipped to keep supporting our members and customers for decades to come.”
