Lloyds Banking Group has met some key commitments in its programme to get more customers on the housing ladder for 2014, the company’s mortgage director has said.
Stephen Noakes said that the group had met the Helping Britain Prosper Plan targets of lending to 80,000 first-time buyers by the end of 2014, and lending £10bn to first-time buyers in that period.
As part of the plan, brands within the group attempt to tackle issues such as a lack of affordable housing.
Mr Noakes announced that in the first 11 months of the year the group had advanced approximately £10.8bn of new mortgage lending to some 81,000 first-time buyers.
He said: “First-time buyers now face a real challenge to get onto the property ladder, but the great propositions across our brands have allowed us to help more than 81,000 people make their move to home ownership this year.”