The Bank of England (BoE) has revealed that lending in the UK rose slightly over April, with the increase in total net lending to individuals standing at £1.3bn - higher than the March increase of £0.7bn.
The increase in net secured lending of £1bn was higher than the March increase of £0.6bn, but was below the previous six-month averages. Credit card lending also increased, by a net £0.30bn. However, the Building Societies Association (BSA) revealed gross mortgage lending from its members was £1.55bn in April 2009, down from £3.921bn in April 2008. Paul Broadhead, head of mortgage Policy at the BSA, said building society mortgage approvals - which give some indication of future lending activity - were 14% higher in April than in March, after adjusting for seasonal factors. "Therefor...
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