The commercial lending arm of Yorkshire Building Society, YBS Commercial Mortgages, grew its balance sheet to £2.2bn in 2024.
The commercial lender completed £453m of commercial mortgage loans during the year, £377m of which went into servicing the private rental sector, and £76m into commercial real estate, which includes the lender’s commercial investment, semi-commercial and owner-occupied product offerings.
YBS Commercial achieved the growth via a combination of business improvements in response to broker feedback, which included expanding its business development and regional lending teams to better support broker engagement and increase the lender’s reach in the market.
Last year also saw YBS Commercial Mortgages venture into new markets, with the launch of a new product to support SME owners who occupy their property for business purposes.
Head of lending at the group, Angela Norman, said: “Hitting over £2bn on the balance sheet is testament to the success of the adjustments we’ve made, and speaks to the stability we offer as a lender – as part of Yorkshire Building Society – as well as to our commitment to the commercial market.
“We have exciting plans for this year - enhancing our current propositions, and, of course, listening to feedback from our trusted broker panel, to continue our focus on improving the customer journey to better support brokers and customers.”
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