Mortgage lending improved in August says BBA

Compared to the same month a year earlier, August’s approvals of house purchase loans were 9% higher by number and 26% higher by value; remortgaging loans were 1% higher by number and 18% higher by value; and equity withdrawal loans were 15% lower by number and also 5% lower by value. The BBA says gross mortgage lending was also up 1% against the same period the year before at £16.8bn. and slightly higher than July’s total of £16.04bn. Seasonally adjusted net mortgage lending rose by £4.3bn, compared with £3.7bn in July and £4.7bn in August 2004. The increase was in line with the average ...