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RBS says it approves 90% of mortgage applicants

Royal Bank of Scotland chief executive Stephen Hester told MPs yesterday that the bank approves 90 per cent of mortgage applications.

Royal Bank of Scotland chief executive Stephen Hester told MPs yesterday that the bank approves 90 per cent of mortgage applications.

Speaking at a Treasury select committee session yesterday, Hester said at the moment RBS looks to set to “handsomely” exceed its target for mortgage lending this year.

He said: “The reason for that is that, although there is not a lot of demand for mortgage lending, a lot of people have disappeared from the market, and therefore we are stepping into the breach.”

He told the committee that despite the recession, people who want to borrow money from the bank are, in most cases, are able to.

He says: “I am adamant we have met our commitment. And if you are someone in search of a mortgage, nine out of ten times we will sell this to you.

“I think that is an appropriate statistic.”

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