Net lending is up at Woolwich but gross figures fall

Woolwich increased its net mort-gage lending by £5.7bn in 2009, but its gross lending fell by £8bn, its annual results revealed last week.

It saw new mortgage lending rise by £5.7bn to £88bn in 2009, compared to £82.3bn in 2008. Gross new mortgage lending was down to £14.2bn in 2009, from £22.9bn in 2008.

Barclays now lays claim to 834,000 mortgage accounts compared with 816,000 in 2008, maintaining its 7% share of the market.

Chris Keane, head of mortgage product at Woolwich, says: “We are providing a greater share of new lending than before and are suppor-ting brokers without dual pricing.”