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Woolwich mortgages increase lending

Barclays via its Woolwich mortgages brand has announced today that it plans to increase its mortgage lending by £5.5bn in 2009. This brings the total expected lending for 2009 to be around £11bn to UK households and businesses.

Total lending for Woolwich's in 2008 stood at £12.5bn, with total mortgage balances at £82.3bn.

A spokesperson for Barclays mortgage banking group said: "Barclays has a strong commitment to the mortgage market in the UK and that continues in 2009 with this commitment”.

The bank said it was too early to give any specifics about any potential new mortgage products it may launch.

Mortgage brokers have commented "This can only be good news for the market as competition drives competitive mortgage products for consumers".

24 April 09

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