Yorkshire Bank pledges to increase mortgage lending

Date:Thursday 30th April 2009
Author: Susanna Kavka

Despite falls in profits, Yorkshire Bank has said it intends to increase mortgage lending to consumers.

According to reports in the Yorkshire Post, the firm's profits more than halved over the six months ending on March 31st, while its bad debts trebled.

However, the bank promised to raise lending.

Chief executive Lynne Peacock stated: "Business lending was up over 14 per cent and mortgage lending grew by over four per cent, demonstrating our ongoing support for the communities in which we operate."

She added that Yorkshire Bank is working hard to help consumers facing financial problems avoid repossessions.

Among the measures being undertaken by the lender to this effect are restructuring loans for a period until consumers are back on their feet.

Recently, director of retail at sister firm Clydesdale Bank Steve Reid said the company was "committed" to supporting mortgage holders during the current period of economic uncertainty, the Scotsman reported.