The Edinburgh-based lender, part of the Lloyds TSB Group, also saw mortgage lending increase by 12% to GBP5.1 billion, while customer deposits were up 9% to GBP2.7 billion.
The figures for the half were a record for the lender, which recorded a 42% cost-to-income ratio for the six months compared with 48% a year earlier.
The niche mortgage provider managed to escape the current price-war going on in the first-time buyer market, according to reports from The Herald.
The report also said the group’s managing director, Graeme Hartop, defended the group’s decision not to pass on the full 0.25% bank rate rise to its savers, despite hiking up its mortgage rate by the full amount from September 1. He attributed the partial rise to a number of changes in the market place.
