A&L reports £1bn mortgage lending

Alliance & Leicester has reported prime residential net mortgage lending was around £1bn in Q1 2007 giving it a 3.9% share of the UK market.

This is higher than its 3.5% share of UK mortgage balances.

Its unsecured personal loan gross advances were £802m in the first three months of 2007, higher than in the same period in 2006.

Unsecured loan balances at the end of March 2007 were £3.8bn.

A&L says its mortgage asset quality remains excellent, with the proportion of accounts in arrears remaining similar to that at the end of 2006.