Mortgage lending up 23% in past six months at SLB

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Standard Life Bank (SLB) has reported an increase of 23% in its mortgage lending for the six months ...

Standard Life Bank (SLB) has reported an increase of 23% in its mortgage lending for the six months to 15 May 2004. In the six months, SLB's gross mortgage lending was £2bn, with total mortgages under management now reaching £9.3bn. It has also expanded its buy-to-let business, which now comprises 3.4% of its total mortgage book. Peter Joshi, financial director at SLB, said the group was looking to grow its buy-to-let lending to anything between 5% and 7%. He said the improved figures were a result of both house price inflation and increased market share. He added: "We will have to wai...