February's gross lending of £14bn was the highest February total on record, 18% above the February 2005 figure and 4% above the total in February two years ago, the British Bankers Association (BBA) has said this morning.
The latest figures from the BBA reveal seasonally adjusted net mortgage lending also rose by £4.4bn, compared with £4.6bn in January, £4.8bn in February 2005 and an average of £4.8bn over recent months. It says there were 166,526 mortgage approvals for all purposes in February, with a total value of £15.8bn. The number of approvals was 19% higher than in January, and 5% higher than in February 2005. The average approval for house purchase rose in February, to £132,300. But despite the optimistic outlook David Dooks, BBA director of statistics, was in a cautious mood saying: ”The comparat...
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