RBS mortgage market share falls and an aggressive market campaign is announced.
RBS mortgage lending figures have recently been released revealing the high street bank's gross lending for property in the first quarter of this year, is down 3 per cent on its first quarter lending in 2011.
The RBS mortgage provisional management statement for the first three months of 2012, shows that the bank lent £4 billion which is a gross mortgage market share of 11 per cent.
On a positive note 25 per cent of all approved mortgages were for first time property buyers.
The bank have reported a pre-tax loss of £1.4 billion which is an enormous increase on the £116 million loss for the first quarter of 2011. The RBS have said that this is due to the repayment of the emergency loan paid out by the Government during the UK's financial crisis.
RBS has announced that it intends to launch an aggressive mortgage drive for the remainder of the year in an effort to increase it's mortgage market share.
Stephen Hester who is the chief executive at RBS commented advising that the bank has expanded its mortgage book all the way through the crisis. He added that while others are announcing their intention to shrink back UK mortgage lending, RBS are in a position to do the opposite because the bank has more deposits than loans
The RBS advise they intend to find more people to lend to. If you are interested in an RBS mortgage or would like a comparison against other lenders offers contact Deal Direct. We are an independent 'whole of market' broker who can source a competitive deal from any UK lender.
