'Mortgage demand may be peaking'

The British Bankers' Association (BBA) thinks mortgage demand, although strong, may be peaking according to its latest figures. Ian Mullen, chief executive of the BBA explained: "Customer appetite for new mortgage products was strong in July and consequently, the major banks' higher lending reflected an increase in their share of the mortgage market. However, looking ahead, demand may be peaking. Though approvals numbers for re-mortgaging continued to strengthen, those for house purchase or equity withdrawal were slightly lower than in June, and the seasonal pattern in previous years ...