Total net mortgage lending for June rose by an underlying rate of £4.6bn only £0.1bn more than in May and remaining within the average increase for the previous six months, says the latest report from the British Bankers Association (BBA) released yesterday.
Growth in overall unsecured personal lending was again relatively weak at £0.4bn, while lending to real estate at £1.8bn was the largest component of lending to non-financial companie, much stronger than in May and the six moth average of £1.1bn, says the BBA. Meanwhile the Council of Mortgage Lenders, (CML) also released figures yesterday claiming they represented stability in the housing market. According to the CML, total lending increased by 16% in June to £25.8bn from £22.3bn in May. But lending for the month was still 19% lower than in June 2004. Lending for house purchase incr...
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