Sizeable increase in gross lending reported by Natwest

May 10, 2022 by Brendan O'Neill

Lenders

Natwest is reporting a sizeable increase in its gross lending total over the course of the initial quarter of this year, with £9.1 billion being the total that it has loaned to homebuyers during that period.

This marks a significant rise on the lender’s gross total for the final quarter of last year, which was £8.4 billion, but a slight drop in comparison to the first quarter in 2021, when the figure was £9.6 billion.

However, the latest Natwest figures also show that its mortgage book has enjoyed growth, bringing about a rise of 8.6% in the bank’s go-forward group income. This was £1.3 billion higher than in the same quarter last year. This group is made up of Natwest subsidiary firms.

The net lending total for this group across the first quarter of this year was £359 billion, marking a rise of £6.7 billion and £2.6 billion growth in overall lending.

Speaking to Mortgage Solutions, the Chief Executive of Natwest, Alison Rose, pointed out that a number of domestic and international factors had affected the economy since the start of 2022. She then went on to say that:

“We are also very aware of the challenges and concerns the cost of living crisis is causing for many of our customers up and down the country. Natwest Group is focused on providing practical help and support for the people, families and businesses we serve.”

Following the completion of CeMAP courses, helping borrowers struggling with rising living costs is a top priority for advisors too.