Newcastle Building Society said its total assets grew to more than £7 billion in 2025 from £6.6 billion in 2024 “driven by strong mortgage lending and continued growth in savings.”

The mutual’s gross mortgage lending in the year was £1.2 billion, matching the record level set in 2024 and savings balances grew to £5.9 billion from £5.4 billion.

The group delivered a profit before tax of £22.6 million, up from £15.7 million in 2024.

“Our average savings rates for Newcastle Building Society customers were 0.60% higher than the market average of 3.03% for the 12 months to December 2025, resulting in £32.8m more savings interest for our Members compared to the market average,” said Newcastle.

“The Standard Variable Rate (SVR) for Newcastle Building Society mortgages remained one of the most competitive on the market at an average of 6.67% throughout 2025 vs a market average of 7.44%, saving our SVR borrowers around £1.6m in interest payments during 2025 compared to the market average …”

Newcastle Building Society CEO Andrew Haigh said: “2025 was a year of further growth and substantial investment in all areas of our group, ensuring that we have the people capabilities, the technology and the physical presence to continue in the delivery of our Purpose for current and future generations of members.

“Progress was manifested very visibly in the re-launch of the Manchester Building Society brand, taking our distinct approach to delivering member value to the North West and in the opening of our new flagship branch at Monument in the very centre of Newcastle.

“We also saw continued growth of our savings management outsourcing subsidiary, Newcastle Strategic Solutions, which is now managing record balances in excess of £52bn on behalf of its bank and building society clients.”