Barclays has reached the milestone of £100 billion in UK mortgage lending.
Over the last three years Barclays has lent £55.7 billion in new mortgages through its mortgage arm Woolwich and increased overall mortgage lending by 42% compared to an average increase across the industry of 3.5%. During the first six months of 2010 Barclays net lending grew by £4 billion in a market where total net lending grew by only £2 billion.
Barclays has today made cuts in its lifetime tracker mortgage range by up to 0.41 percentage points.
The main reductions are across the 70% and 75% LTV range. On the 70% LTV the rate will fall from base + 2.49% to base + 2.08% (a reduction of 0.41 percentage points) and the 75% LTV will reduce from base + 2.69% to base +2.39% . Equivalent Loyalty tracker rates have also been reduced with a new headline rate of base +1.88%.
Mark Parsons, managing director of retail assets and deposits for Barclays, said: “Barclays has remained open for business throughout the testing times of the last few years and that is reflected in these figures. The strength of the growth shows that we remain firmly committed to the UK mortgage market and that we are actively lending more to homeowners and buyers than ever before.
