Mortgage lending strong during November says BBA

This was among the highest on record and 23% higher than the £14.6bn of November 2004 says the BBA. November’s gross lending was 2.5% higher than October’s total of £17.5bn. Seasonally adjusted net mortgage lending, says the BBA, rose by £5.1bn, compared with £4.3bn in October and £4.1bn in November 2004. Again this was the strongest increase since July 2004 and compares with an average of £4.4bn over the previous six months. There were 192,927 mortgage approvals in November, with a total value of £19.1bn. The number of approvals was virtually the same as October 2005 but 22% higher than ...