Gross mortgage lending grew to £17.8bn in September, the highest monthly total since July 2004 and 6% higher than August the lastest figures from the British Bankers Assocation (BBA) reveal
Over the third quarter, gross lending was £50.7bn compared with £51.1bn in the same quarter of 2004, says the BBA. Other information shows seasonally adjusted net mortgage lending, rose by £4.9bn, compared with £4.4bn in both August 2005 and in September 2004. This was the highest increase of the year and above the average of £4.4bn over the previous six months, producing an annual growth rate of 12% claims the research. There were 199,031 mortgage approvals, for all purposes, in September, with a total value of £19bn. The number of approvals was 2% higher than both August 2005 and Se...
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