Northern Rock has seen record gross lending of £4bn and net lending
of £2.3bn for the first six months of this year.
The increase represents a 28.2 per cent jump from £3.1bn last year
and the 16.3 per cent leap in net lending from £2bn helped give the
company a 7.3 per cent share of UK net mortgage lending.
Northern Rock says the results provide further confirmation that its
strategy of focusing on lending primarily to individuals remains firmly on
Pre-tax profits rose by 14.1 per cent to £139.6m from £122.4m
last year and post-tax profits increased by 14.8 per cent to £97m from
Northern Rock recorded strong gross residential lending of £3.1bn
from £2.5bn last year and net lending of £1.7bn from £1.5bn
It says its success is down to the buoyant residential lending market
supported by falling interest rates, house price inflation and robust