25 Feb

Lloyds provide 1 in 5 mortgages in 2010

Lloyds provide 1 in 5 mortgages in 2010

One in five people that bought houses for sale in 2010 secured mortgage finance from Lloyds Banking Group.

The lender approved £30 billion in home loans last year, resulting in a 22.1 per cent share of gross mortgage lending.

In addition, eight out of ten first-time buyer applications were approved, resulting in £5 billion in lending for people to get onto the property ladder

However, Lloyds Banking Group has seen its mortgage business shrink in comparison to previous years.

In 2009, the banking group held 24.1 per cent of gross mortgage lending, approving mortgages amounting to £34.7 billion.

More people could be applying for mortgage finance in 2011 as a result of a new government scheme.

The New Homes Bonus programme will reward communities that allow developers to build new homes, aiming to create more houses for sale in the UK.

Housing minister Grant Shapps said: "We need to get the country building again."ADNFCR-1222-ID-800429368-ADNFCR

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