The Council of Mortgage Lenders,British Bankers Association and Building Societies Association have all released mortgage lending figures for February suggesting the UK now has a slow but steady housing market.
The CML claims gross mortgage lending remained flat during February at £17.2bn, slightly down on January’s lending figures of £17.3bn and 18% lower than lending figres for February 2004 at £21.1bn. But the BBA says net mortgage lending was up £600m on January at £4.8bn and £300m stronger than the average increase for the previous six months of £4.5bn. Meanwhile the BSA says net mortgage lending stood £602m for February down from £1.2bn for February 2004. Approvals for the month were also down at nearly £3.4bn, down from around £3.8bn the year before. The CML says both lending for ho...
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