LENDING IS STILL booming across the UK despite house price rises slowing, according to the latest lender data published yesterday, threatening to step up the pace of interest rate rises.
Lender Northern Rock, reporting results yesterday, says it is banking on continued strong remortgaging demand to push its profits up over the year, despite a drop in the number of transactions for new purchases. Council of Mortgage Lenders says new lending by its members in June was up 40% on the same month last year at £13.6bn, target=”_blank”>The Daily Telegraph writes. The Times says the news means higher interest rates are a certainty when the Bank of England’s Monetary Policy Committee meets early next month. The new lending figures mean the housing market’s dip in May was no...
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