8 Oct

Mortgage lending on houses for sale in UK 'has risen'

Mortgage lending on houses for sale in UK 'has risen'

A report has shown that the amount of money lent to homebuyers to purchase houses for sale in the UK has risen.

According to figures released by Barclays, since 2007 mortgage lending for the company has increased by 42 per cent.

The financial services provider announced this rise as it reached a milestone, having lent out £100 billion for mortgages.

More than £55.7 billion of this has been in the last three years and £4 billion was lent in the first half of 2010 alone.

Managing director of Retail Assets & Deposits for the firm Mark Parsons said: "Barclays has remained open for business throughout the testing times of the last few years and that is reflected in these figures."

He added that by adapting its mortgage range to provide "long-term value" and meet the needs of potential homeowners, they have been able to support the mortgage market in the UK.

Last month, Barclays announced that it has cut its lowest mortgage rates by up to 0.34 percentage points in order to provide customers with more options when choosing their mortgage provider.  ADNFCR-1222-ID-800106920-ADNFCR

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