Gross lending at RBS falls 3% in 2010

Gross mortgage lending at the Royal Bank of Scotland fell by 3% in 2010 compared to 2009, its annual results show.

The bank lent £18.7bn to mortgage borrowers in 2010.

In Q4 2010 RBS retained its 11% market share but gross lending volumes plummeted 17% on Q3 to £4.4bn.

The bank blames a weak market in the final quarter of last year for the drop in annual gross lending figures.

First-time buyers made up 16% of the bank’s lending in Q4.

Net lending also increased by £1.8bn in the quarter bringing the annual total to £8.8bn.