MORTGAGE LENDING AT LLOYDS BANKING GROUP PLUMMETS

July 29, 2016 by in category Mortgage News with 0 and 0

Amid a backdrop of cost-cutting exercises and the prospect of a planned scale-back in growth, gross mortgage lending at Lloyds Banking Group plunged 22% in the first half,.

A sharp drop from the £22.7bn lent in the second half of 2015During the first six months of 2016, mortgage lending totalled £17.7bn at the group.

As the group seeks to balance margin and risk considerations with volume growth, mortgage lending at Lloyds has grown below market expectations in the past 12 months.

Buy-to-let customers has grown significantly below the market, in particular.

Lloyds continues to drive the use of remote advice through video interviews across its mortgages, wealth and retail business banking divisions, with over 1,000 interviews taking place since the service was launched in March.

As the impact of the EU referendum result played out over the coming months and years.
Lloyds’ group chief executive António Horta-Osório, said the group was preparing for a reduction in growth

London Mortgage Advice Ltd is authorized and regulated by the Financial Conduct Authority for residential mortgages and non investment insurance business.

Although London Mortgage Advice Ltd is regulated by FCA, commercial mortgages and most buy-to-let and offshore mortgages are not regulated by the FCA.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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