Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Barclays UK grew its mortgage balance by £9.9bn in 2021

Barclays UK



The lender reported a profit before tax of £2.47bn in 2021, which is up from £546m in 2020

Barclays UK grew its mortgage balance by around £9.9bn in 2021, growing its total back mortgage book to £158.1bn in December 2021.

This is up from £148.3m in December 2020 and £143bn in the same period in 2019. It said was due to a ‘strong flow of new applications’ and ‘strong customer retention’.

The report said there had been a near eight per cent growth in residential loans, whilst buy to let had ‘remained broadly stable’.

It added that owner-occupier interest-only home loans made up 19 per cent of total balances, down from 22 per cent in 2020. BTL loans made up 13 per cent of total balance, slightly lower than 14 per cent in 2020.

The average owner-occupied loan to value (LTV) stayed roughly stable at around 50 per cent, whilst for BTL loans it decreased slightly from 55 per cent to 53 per cent.

Barclays UK said it had served around 150,000 customers with a mortgage, of which 48,000 were first-time buyers. This is up from 25,000 in 2020.

The average LTV of its mortgage portfolio was 51 per cent, which is the same level it has been since 2019. However, the average LTV of new mortgage lending was 70 per cent, which is slightly up on 68 per cent in both 2019 and 2020.

The lender reported a profit before tax of £2.47bn in 2021, which is up from £546m in 2020. This is also an increase from around £1.02bn in 2019.

The provider reported a total income for 2021 of £6.5bn, which is an increase of around three per cent from the prior year. It attributed this to ‘robust mortgage lending’ as well as balance growth in deposits and non-recurrence of Covid-19 customer support actions.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.



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