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Lending up at Clydesdale and Yorkshire

Lending up at Clydesdale and Yorkshire

Category: Mortgages

Updated: 28/04/2009
First Published: 28/04/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The owner of Clydesdale and Yorkshire Banks has revealed the lenders released almost £2 billion in new mortgage lending between October last year and March.

National Australia Bank Group revealed these figures in its interim results for UK operations.

In total, £1.9 billion of new business and mortgage lending was approved in the six month period. The results for average gross loans and acceptance were also encouraging, increasing 9.5 per cent to £33.5 billion.

The lenders also bucked the trend of average retail deposits, which have increased by 15 per cent to £20.1 billion - almost five times the industry average.

"Almost £2 billion of new lending has been advanced to business and mortgage customers at a time when they have needed it most," said Lynne Peacock, chief executive.

"Business lending was up over 14 per cent and mortgage lending has grown by over four per cent, demonstrating our ongoing support for the communities in which we operate."

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