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Santander writes almost one UK mortgage in five

04 February 2011
Written by rosalind renshaw

Santander UK hung on to an 18% share of the mortgage market last year, despite a drop in both gross and net lending.

It wrote one in five of new mortgages, and net lending totalled £5.5bn in 2010, down on 2009’s £7.6bn.

The Spanish bank completed £24.2bn of gross mortgage lending last year, down from £26.4bn in 2009.

In a year of two halves, the first six months showed gross lending up slightly from £11.9bn to £12.3bn, before the figure dipped in the second half.

It took 873 properties into possession, compared with 820 in 2009.

Overall Santander UK made a profit after tax of £1.7bn – up 11% on 2009.

Ana Botín, chief executive officer of Santander UK, said: “Our aim is to increase our lending to UK businesses and create new jobs as we open more business centres to serve them.”

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