The boss of Newcastle Building Society has says its latest half yearly results represent a "strong set of numbers" despite significant economic uncertainty.
Gross mortgage lending in the six months to the end of June was £448m, down from £483m in the the same period of 2021. Underlying operating profit increased to £14.2m from £13.3m but pre-tax profit was down from £15.9m to £14.2m.
Speaking to Business Live about mortgage lending levels, chief executive Andrew Haigh said: "We had a very strong run in the first half of last year and it's just behaved slightly differently. Actually demand is still very strong. It's just a little bit of a timing issue more than anything else. The property market is still very, very active."
