9 Feb

Bank on track to meet £10bn lending pledge

Bank on track to meet £10bn lending pledge

People buying houses for sale in the UK may benefit from an ambitious lending target set by the National Australia Bank Group.

The group, who owns the Clydesdale and Yorkshire banks in the UK, has pledged to hit a target of £10 billion in lending to its customers.

Announced in 2009, the pledge could help people trying to buy houses for sale in 2011 to secure mortgage finance.

Lynne Peacock, chief executive of the National Australia Bank Group, said: "Clydesdale and Yorkshire Banks remain fully committed to supporting new and existing business and personal customers.

"We are firmly on course to deliver our two-year pledge to advance £10 billion of gross new lending to businesses and mortgage customers."

The bank will be able to meet the lending target deadline of October 2011, she added.

Increased lending from the Yorkshire and Clydesdale banks is good news for people trying to secure a home loan after the Bank of England reported low lending figures.

Total lending to individuals fell to £0.1 billion in December last year, and the number of mortgage approvals dropped to 42,563.ADNFCR-1222-ID-800395140-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.