Lloyds Banking Group lifted gross new mortgage lending 14% to £5.6bn in the primary six months of the 12 months from a 12 months in the past, citing “wholesome demand” for residence loans.
The lender, which owns Halifax, mentioned “mortgages have been pushed by sturdy demand in the primary quarter”, which noticed homebuyers rush to beat stamp responsibility threshold modifications on the finish of March.
Home mortgage balances rose 2% to £317.9bn in the primary half of the 12 months, including that the “influence of sturdy lending volumes on the finish of the primary quarter at the moment are being mirrored in common lending,” in a buying and selling assertion.
During the interval, it additionally launched a digital residence loans course of for purchasers.
It mentioned: “We have continued to speed up the shift to mobile-first as a method of bettering our buyer proposition, with our new digital remortgage journey driving a circa 4 share level enhance in extra priceless direct-to-bank software share to circa 25% of the market.”
The group posted a pre-tax revenue up 4% to £2.5bn, with progress coming from its company and institutional banking items, in addition to mortgages.
It added: “The fundamentals of the UK economic system are sturdy and we welcome the ambition of the lately launched industrial technique and monetary providers reforms by the UK authorities.”
Lloyds Banking Group chief government Charlie Nunn mentioned: “Our strategic progress and sustained energy in our monetary efficiency permits us to reaffirm our 2025 steering and provides us confidence in our 2026 commitments.”
