View more on these topics

Santander’s gross mortgage lending down 21%

Santander’s gross mortgage lending in the first half of the year was 21 per cent lower than the same period in 2010.

The Spanish bank lent £9.7bn in the UK in the first half of the year, down from £12.3bn in the first six months of 2010.

This drop in lending meant its share of the UK mortgage market, in terms of gross lending, fell from 19.1 per cent in the first half of 2010 to 15.4 per cent. The average loan-to-value of new lending was 64 per cent.

Santander UK’s pre-tax profit in the first half of the year was £1.1bn, down 3 per cent on the same period last year.

Santander UK chief executive Ana Botin says: “Santander UK has delivered robust performances across all business areas this year, and we have taken some significant steps in our programme to improve customer service including returning our overseas retail banking call centres to the UK.

“We have maintained our industry-leading range of “best buy” products for our retail customers, and are achieving improved levels of service satisfaction in our retail, corporate banking and intermediaries businesses.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. That is hardly surprising! The service standards for the intermediaries are really bad. I have had occassions where I have advised clients to go direct because of dual pricing and all of them have had offers within a week yet I have 5 cases on go at the moment, with Abbey asking for a spate of requirements in drips – one after the other with service elapses on average of 3 days. All these case have been dragging on for more than 3 weeks now with the earliest one going back to 16/06/2011.
    No wonder they are down on their lending, as I am sure a number of intermediaries like me are not putting any new cases to them. Having a competitive product is simply not good enough without service backing!

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com