Skipton mortgage best rates help to triple lending figures.

Continual improvement to Skipton's mortgage best rates has enabled the lender to increase its mortgage market share.

Skipton recently released figures for 2011 which show that lending to UK home-owners tripled from lending reported in 2010. They reported a total group profit for 2011 of £22.2 million.

Skipton's mortgage services division made a relatively small operating profit though of £0.2 million, which the lender advises was due to its restructuring costs. Skipton made the decision to invest in a strategy to reposition their business, so that in the future they are best placed to take advantage of mortgage lending opportunities.

Skipton’s actual gross mortgage lending figures show a threefold increase from 2010, new figures show a lending level of £1.7 billion which compares favourable to £0.5 billion for 2010. They attribute this increase in lending to their mortgage best rates.

David Cutter who is the chief executive of the Skipton group commented on the figures saying that he is very pleased with the results which he believes show yet another strong financial performance by Skipton.

He added that the lender continues to react well to UK economic challenges. He went on to say that with their range of competitive products Skipton are helping customers realise their home-ownership dreams.

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