Latest figures from the British Bankers' Association show there has been strong gross mortgage lending but weak unsecured lending over the last month.
The June figures from the BBA show gross mortgage lending reached £20.5bn, 24% higher than June 2005 and the highest figure on record, while also increasing 12% since May moving up from £18.2m. And seasonally adjusted net mortgage lending, which is gross lending minus repayments and redemptions, also rose by £5.6bn, compared with £5.8bn in May, and is a strong increase on the average of £5.3bn over the last six months. According to the BBA, loan approvals for house purchases in June were 22% higher in number, and 27% higher in value, with a total of 212,768 mortgage approvals, valued ...
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