View more on these topics

Gross mortgage lending hits £20.6bn at Barclays

Gross mortgage lending at Barclays has hit £20.6bn for the first nine months of this year with net lending at £4.8bn.

The bank’s interim management statement, published today for the first nine months up to the end of September, shows that its Core Tier 1 ratio was 10%, well above the 7% required by the Basel III agreement. And overall impairments are down 31% to £4.3bn from £6.2bn last year.

Group profit before tax for the year-to-date is up 4% to £4.3bn from £4.1bn in 2009.

Barclays has £28bn of wholesale term issuance in first nine months.

John Varley, group chief executive of Barclays, says its income and profit performance was resilient despite a subdued economic environment and moderate volumes.

He says: “We continued to invest in a number of our businesses on a pay-as-you-go basis with a view to increasing future returns on equity. Our loan loss rate and overall impairment charge have improved further in the third quarter.

“Our capital, leverage and liquidity ratios remain strong. We are well equipped to deal with regulatory change as Basel III is implemented between now and 2019.

“We understand what is required of us to support private-sector led economic activity and have lent some £35bn to UK households and businesses in 2010, an increase of over 30% versus the same period in 2009.”


Ensure you exceed client expectations

It’s less than 10 weeks until 2011, so how are your new year resolutions coming along? Are you hoping 2011 is going to be better than this year? Most things we want in life are an improvement on what we have. How many people do you know who wish an area of their life would […]

Law firm offering £20 leads voucher for cases next year

Goldsmith Williams is giving away a £20 Leadbay voucher for every re-mortgage or conveyancing case that completes through it on or after January 4 2011. The offer is being launched at this week’s Mortgage Business Expo in time for brokers to acquire leads and start the mortgage process before January. There is no limit to […]


Pension over-taxing

800,000 people are at risk of being over-taxed on their pensions, writes Steve Webb, director of policy at Royal London Hundreds of thousands of people receiving company and personal pensions should check their tax code to make sure that they are not being over-taxed, according to a leading pensions firm. Mutual insurer Royal London has […]


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Paul 22nd November 2010 at 3:27 pm

    As far as i am aware woolwich will pay a regular proc fee on a rate switch on 0.2%. Not bad for a couple of pages work…

  • Ray Boulger 9th November 2010 at 3:58 pm

    Ancient Wisdom.

    Provided the broker initiates the droplock option being exercised Woolwich pay a proc fee if that event happens, albeit normally at around half the rate for new borrowers.

    Also Woolwich are one of the good guys who don’t dual price, even for existing borrowers!

  • Iain Telfer 9th November 2010 at 3:16 pm

    Surely the point of a Lender paying a broker a fee is for the client introduction? They aren’t simply borrowing them for a few years so you can get another fee on an automatic basis. Surely it’s upto your relationship with your client to get repeat business.

  • Ancient a mortgage broker in N3 9th November 2010 at 10:28 am

    ..Barclays – Woolwich have continued to show commitment to the broker market and great rates, however, the lifetime trackers and the track and fix options on the products will mean brokers will have little scope for remortgage business with Woolwich once the client is with them.

    Brokers are being used to get new clients, once they have them, they will cross sell and dual price directly.

    Yes, my glass is half empty – but I wake up early in the mornings and I can see what the trends are.