Santander Publishes Mortgage Lending Report
One of the leading UK mortgage lenders, Spanish bank Santander, published its mortgage lending report on gross lending in quarter 3 2011.
According to the bank's report, this quarter the bank did gross mortgage lending of 7.1 billion pounds. This compares to 5.5 billion and 4.2 billion pounds in quarter 2 and quarter 1 respectively. Thus, mortgage lending by Santander improved by 29% in quarter 3 compared to quarter 1.
However, when gross mortgage lending by Santander in 2011 is compared to the same period in 2010, it turns out that the situation is not as good as it seems. This year, the bank carried out 16.8 billion in mortgages, while last year this figure was 13% higher, as gross lending stood at 19.2 billion.
Commenting on the figures, Andy Smith of Santander, said that the bank is “lending more than [its] competitors and, at the end of the year, [its] aims to retain the position as the number one intermediary mortgage lender.”
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