Lloyds grows mortgage book

Mortgage Introducer

July 29, 2021

Lloyds Banking Group grew its open mortgage book by £12.6bn in the first half of 2021, its half-year results have shown. 

So far it has lent around £9bn to first-time buyers leaving the Bank on track to meet its £10bn first-time buyer commitment.

It is also exceeding its target of £1.5bn in new funding for the social housing sector in 2021.

Overall the group reported profit before tax of £3.9bn and a net income of £7.6bn, up 2% on the same period in 2020 and up 8% on the second half of 2020.

William Chalmers, group chief executive of Lloyds Banking Group, said: “This includes continuing to help people buy a home and expanding the availability and quality of affordable homes.

“We recently announced our move into the private rental sector with the launch of Citra Living.

“The intention is to work with leading house builders through strategic partnerships to support the building of additional housing and offer high-quality rental properties for families across the UK.”

The Bank announced an interim dividend of 0.67p per share, with a progressive dividend policy going forwards.

Lloyds share price rose 1.5% in early trading.

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