Mortgages boom as high street banks on track for biggest lending since 2007

In Full...

High street banks dished out more than £50bn of mortgages to homebuyers in the first half of the year, putting the lenders on track for their biggest year since 2007.

That is a rise of 10pc compared with the first six months of 2018, according to data from industry group UK Finance, as banks including Lloyds, Barclays, HSBC and RBS ramped up lending, particularly to borrowers with small deposits.

Those loans were offered to almost a quarter of a million homebuyers in the first six months, up 6pc on the first half of 2018.

However it is not an 11-year record in the number of homes bought - rather the surge in the value of lending reflects higher prices in the market.

In 2007 more than 390,000...

 
www.telegraph.co.uk
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