Barclays new home mortgage bookings jumped to £15.4bn in the primary six months of the 12 months from £9.2bn a 12 months in the past, “pushed by elevated demand as rates of interest decreased”.
The finish of decrease stamp obligation thresholds on the finish of March and “elevated operational capability” additionally lifted home mortgage gross sales, the financial institution mentioned in a first-half buying and selling assertion.
Mortgage balances on the financial institution got here in at £166.8bn in the six months to the top of June, up 3.5% on a 12 months in the past.
The common loan-to-value ratio of new mortgage lending was 70% in the interval, in contrast to 63% 12 months in the past.
The common LTV of its mortgage portfolio was 54%, in contrast to 53% a 12 months in the past.
It added that the proportion of loans better than 90% LTV lifted from 0.8% in the primary half of final 12 months to 1.6% in the primary half of this 12 months, “primarily pushed by a rise in Treasury mortgage assure scheme purposes”.
Last February, Barclays purchased Tesco Bank’s retail operations for £8.3bn, consisting of bank card and unsecured private loans in addition to buyer deposits.
Overall, the financial institution posted first-half pre-tax revenue up 23% to £5.2bn, on gross sales up 12% to £14.9bn. It additionally introduced a £1bn share buyback programme.
Barclays chief government C. S. Venkatakrishnan mentioned: “We stay on observe to obtain the aims of our three-year plan, delivering structurally greater and extra steady returns for our traders.”
