28 Nov '12, 8am

Nationwide mortgage loans pick up #PR

Nationwide said it was responsible for nearly 20 percent of all new mortgages granted to first-time buyers in the UK, a sign that it has played its part in bolstering the country’s economic recovery, The Guardian reported. Gross lending for the first half of this year climbed by 15 percent to £10.2 billion (S$19.97 billion), it said. Of that figure, £2.5 billion (S$4.9 billion) was borrowed by first-time buyers, helping nearly 20,000 people acquire their first home. Lending to first-timers was up by 94 percent compared to H1 2011 and translates to an 18.5 percent share of the first-time buyer market. However, Nationwide’s Product and Marketing Director Chris Rhodes expects home prices to remain “broadly flat” next year. Nationwide was also affected by a significant increase in losses from commercial property lending, which reached £193 million (S$377.95 million) in H1 2012...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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