West Brom Building Society has delivered a strong annual performance, completing over £1 billion in new homeownership lending.
More than 5,500 first-time buyers were helped to take their first step into homeownership. Overall, 85% of new mortgages were for homebuyers, with 72% of these supporting first-time buyers.
Alongside this, the West Brom continued to lead the way for standard variable rate borrowers, helping customers save around £1,200 a year by offering lower rates to those with more equity in their homes at the end of their mortgage deal, compared to the average market SVR.
The Society welcomed more than 21,000 new savers during the year, up 54% from the previous year. Total savings balances increased by 10% to £5.6 billion. Savers benefited from the Society’s mutuality, with rates averaging 28% above the market, putting an additional £37.4 million into members’ pockets compared to typical savings returns.
The Society delivered pre-tax profits of £33.6m, helping maintain a strong Common Equity Tier 1 capital ratio, which increased to 17.2%. This capital strength has enabled the Society to support more people to buy their own homes and continue its investment in modernising its digital and technology estate to help deliver the products and services customers need for the future.
The results highlight the West Brom’s continued focus on delivering for both borrowing and savings customers, supporting aspiring homeowners while ensuring savers’ money works harder in a competitive market.
Jonathan Westhoff, Chief Executive at West Brom Building Society, said: “In what’s been a challenging market, our Society’s strong performance reflects our clear focus on doing the right thing for our members. Maintaining over £1 billion in new lending while increasing our support for first-time buyers shows we’re delivering where it matters most, helping more people buy their first home.
“At the same time, we’ve made sure our savers continue to see real value, with rates consistently above the market average and millions more returned to our members. That balance is at the heart of what it means to be a mutual.
“Alongside our financial performance, we’ve continued to invest in our communities, opening five branch community rooms across our heartlands, hosting local community groups such as Talkin’ Tables and other wellbeing initiatives, such as scam and fraud awareness, and power of attorney sessions.
“Through fundraising, grants and donations, we’ve provided nearly £50,000 to support charities and community groups, while colleagues volunteered nearly 1,900 hours to local projects and delivered financial education sessions to over 2,100 children and young adults in our heartlands. And, we continued our partnership with Birmingham based charity Jericho, helping to support employment opportunities for those who may struggle to enter the workplace.
“We’re proud of the progress we’ve made, but we’re not standing still. We’re continuing to invest in our communities, our people and our digital transformation, so that we can offer even greater choice, flexibility and support for our members now and into the future.”
Key highlights to March 2026
- £1.1bn in new mortgage lending
- 85% of new mortgages for homebuyers, of which 72% went to first-time buyers, helping over 5,500 customers
- Saved SVR borrowers around £1,200 annually vs average SVR1
- Delivered average savings rates 28% higher than market average rates2, giving £37.4m back to members
- Welcomed over 21,000 new savers (up from 13,706 in 2024/25)
- Total savings balances up 10% to £5.6bn (from £5.1bn in 2024/25)
- Community support - contributed nearly £50,000 (2024/25: £49,266) to local charities and community causes, supported by over 1,890 hours of colleague volunteering (2024/25: 1,894 hours).
- West Bromwich Building Society Foundation donated £450,000 to its partnership with Barnardo’s to create five Gap Homes for vulnerable young people and £15,000 to support the YMCA Safe Space Youth Café.
- Financial strength - profit before tax of £33.6m (2024/25: £36.5m) supported continued financial resilience, with a Common Equity Tier 1 (CET 1) capital ratio of 17.2% (2024/25: 17.1%).
- Achieved B Corp TM certification, an independent recognition of being a purpose driven business, reflecting high standards in social and environmental responsibility, transparency and accountability.
- Customer experience commitment - retained the Feefo Gold Trusted Service Award for a second consecutive year.
- Recognised for giving outstanding support to first‑time buyers with the First‑Time
- Mortgage Buyers’ Choice Award and highly commended as ISA Provider of the Year at the Moneyfactscompare.co.uk Awards. Also named Best Variable Rate Cash ISA Provider at the Moneyfacts Awards, and listed in The Sunday Times Best Places to Work 2026.
