LBG hits FTB target early
As part of its Helping Britain Prosper Plan LBG promised to help 80,000 first-time buyers by the end of 2014, a commitment it has managed to achieve with a month to spare.
In addition, the Group has also met its pledge to lend £10bn to first-time buyers by the end of the year, helping these customers take the important first step onto the property ladder.
In the first eleven months of 2014, Lloyds Banking Group advanced over £10.8bn of new mortgage lending to more than 81,000 first-time buyers.
That is 26% and 14% more, respectively, when compared with the same period last year. Both commitments were fulfilled in November.
Stephen Noakes, mortgage director at Lloyds Banking Group, said: “Fulfilling our challenging first-time buyer commitments for the second year in a row shows our strong commitment to Helping Britain Prosper.
“First-time buyers now face a real challenge to get onto the property ladder, but the great propositions across our brands have allowed us to help over 81,000 people make their move to home ownership this year.”