Yorkshire Housing Sees Surplus Fall Amid Higher Borrowing Costs

Yorkshire Housing's surplus before tax fell by a third last year to £7.2m due to increased interest and finance costs.

The 20,000-home landlord saw turnover increase by 5% to £173m as rent increases boosted revenue.

However, higher borrowing costs led to a £4m rise in interest and finance costs, which totalled £28m in the last fiscal year.

Chief executive Nick Atkin called on the Bank of England to cut interest rates, arguing they were 'holding the sector back'.