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NatWest and RBS mortgage lending passes £100 billion mark

08 May 2014

NatWest and RBS have announced they have passed the £100bn mortgage lending mark to UK customers.

The bank's overall lending has grown by around £30bn since 2008, an over 40% increase. The banks say they aim to “help young people and families across Britain to get on with their lives, and make that next move”.

Since 2008, 338,000 customers have received a mortgage for a new home from either Natwest or RBS; 147,500 (43%) first-time buyers to the value of £18.3 billion and 190,500 next-time buyers (£31.3 billion). The figures equate to more than 56,000 new transactions for estate agencies and solicitors each year.

The Help to Buy mortgage guarantee scheme, has helped customers previously locked out from getting on the property ladder. Six months on, the banks have received more than 6,800 applications and have helped almost 2,330 customers to buy their home so far. Eight in 10 Help To Buy property purchases have been made outside London and South East.

Lloyd Cochrane, head of mortgages at NatWest and RBS, said: “RBS and NatWest are open for business. We aim to continue with strong growth in our mortgage lending to homebuyers in 2014, helping as many customers as possible to buy their home as we play our role in the recovery and the future growth of the UK.”   

NatWest and RBS released postcode lending data on 8 April. 20% or £19bn of RBS’s mortgage lending is in six of the UK’s largest cities; Central London (central postcodes), Birmingham, Glasgow, Manchester, Edinburgh and Bristol.  80% or £79bn takes place outside these cities across the country with significant amounts of lending in all of the UK’s 120 postcode area geographies ranging from the Lerwick to Truro.

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