26
May
Mortgage lending growth 'on the rise'
The growth in mortgage lending to UK consumers increased again last
month, according to new figures.
Produced by the British Bankers' Association (BBA), they show that
the annual rise in banks' net lending for the purposes of home
loans went up by 4.3 per cent in April.
However, this is slightly down on the 4.5 per cent hike seen during
the previous 31-day period.
Responding to the findings, BBA statistics director David Dooks
said: "Household priorities are clearly reflected in this latest
data, with people paying down debt rather than building up
savings."
He added that uncertainty about the impact of government policies
and the economic outlook will impact on individual's decision
making.
Recently, the Council of Mortgage Lenders noted that a total of
around £10.2 billion was provided to consumers in the form of
mortgages last month.
This was said to be broadly in line with predictions it had
made.
