Barclays.comSupporting individuals
Lending is a fundamental part of what banks do to support their customers and clients. Making credit available, through mortgages to families and providing finance for businesses, contributes to job creation and economic growth.
The supply of credit is critical to economic recovery and, ultimately, growth and is a fundamental part of what banks do to support customers and clients.
In 2010, our progress included:
• Provided £43bn of gross new lending to UK households and businesses (including £7.5bn from the acquisition of Standard Life Bank)
• UK home loans balances increased by 15 per cent to £104.9bn.
• Increased UK mortgage balances by 16 per cent to £101.2bn (as at 31 December 2010)
Ensuring that customers can afford to repay credit card debt, loans and mortgages lies at the heart of responsible lending. We have robust processes in place to assess income and existing financial commitments which help us determine a customer’s ability to manage their debt. For example, in our credit card business, we undertake regular reviews throughout the customer relationship to ensure borrowing levels remain appropriate and take action where necessary to minimise the likelihood of financial difficulty.
We work to ensure that those who are experiencing financial difficulty receive the best possible support. We have dedicated teams trained to recognise early warning signs, take proactive steps to contact customers, discuss a range of options available to them that best suit their individual financial circumstances and help get them back on track from arrears.
