Santander sees 43% rise in mortgage lending

Santander increased its gross mortgage lending to £26,3bn in 2014, a 43% rise from the previous year.

Related topics:  Mortgages
Rozi Jones
4th February 2015
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The bank's quarterly management statement showed net mortgage lending up £2.0bn to a total of £150.1bn, 40,300 first-time buyers equalling £5.6bn in gross lending, and customer applications for residential mortgages up 26%.

Additionally, Santander supported 8,100 Help to Buy customers (£1.2bn), with the bank describing Help to Buy demand as "higher than expected".

The latest figures bring total net mortgage lending at Santander to £150.1bn.

The bank also stated that they anticipate the Bank of England's bank rate to rise to 0.75% late in the year.

Nathan Bostock, Chief Executive Officer, said:

"The UK economy improved during 2014 and will, we believe, continue to be supportive of our business in 2015. Progress on clarifying the regulatory landscape has been made and further details are expected in 2015, particularly in relation to capital, leverage, conduct and banking structure. Early completion of these reforms, in a proportionate way, will help us to contribute fully to UK’s ongoing economic recovery."

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