Santander UK noticed gross mortgage lending jump 43% to £10.6bn in the primary six months of the 12 months, in contrast to the identical interval a 12 months in the past.
It stated the profile of its debtors in the interval was 41% homemovers, 28% remortgagers, 22% first-time patrons and 9% landlords.
The common mortgage measurement of new enterprise was £250,000, from £246,000 on the finish of December.
However, its mortgage e book was flat at £167.2bn on the finish of June from the tip of December.
The lender added: “We proceed to anticipate a gradual return to web lending development in 2025, with mortgage pipeline heading into the second half of 2025.”
It stated the proportion of home loans in arrears for longer than 90 days was 0.74% from 0.80% on the finish of December.
TSB has a £34bn mortgages e book, which represents a 2% UK market share.
Overall, Santander UK pre-tax revenue fell 5% to £764m, pushed by larger transformation fees, together with £42m of fees relating to modifications to its department community and reducing employees by 2,000.
Santander UK chief govt Mike Regnier stated: “Banco Santander’s current settlement to purchase 100% of TSB from Sabadell accelerates our transformation, permitting us to improve our buyer proposition and make investments extra in revolutionary merchandise and our digital providing.”
“However, revenue earlier than tax diminished to £764m due to larger transformation associated fees as we make investments in our future to grow to be easier, extra agile, and higher in a position to innovate to meet the challenges and expectations of our prospects.”
