Barclays takes one third of new mortgage market

The firm's net new lending totalled £12.5bn, up from £8bn in 2007, while gross advances were stable at £22.9bn. Redemptions stood at £10.4bn, compared to £15bn in 2007. Barclays revealed its profits before tax reached £6.1bn, although this is a 14% drop on 2007. After tax, profits total £5.3bn, 4% up on post-tax profits for 2007. In the UK retail business, profits before tax climbed 7% from £1.28bn to £1.37bn. Impairment charges and other credit provisions at the bank totalled £5.419bn, an increase of 94% on the prior year. The former included £1.76bn arising from US sub-prime mortgages...