Barclays advanced £7.7bn of mortgage lending in Q1, a 17% decline compared to the previous quarter, when it advanced £9.3bn, results from its Q1 trading update show.
Mortgage lending was also down on Q1 2025 by 9.4% to £8.5bn – the last quarter before stamp duty thresholds were lowered, motivating households to move before April.
The bank’s loan book was valued at around £174bn at the end of Q1, up 4.8% compared to Q1 2025. The product split of its loan book was 37% two-year fixed rates and 46% five-plus year fixed rates. The bank’s average loan to value (LTV) was 56%, while 10% of total balances were buy to let (BTL).
Profit before tax was £0.9bn compared to £0.8bn the previous year. Net interest income stood at £2bn, up from £1.8bn in Q1 2025.
Reporting on its full-year results earlier this year, Barclays issued £34.3bn in gross mortgage lending in 2025, up from £23.9bn the year before.