Mortgage approvals fell 27% in 2009 - BBA

It said gross lending was inflated by borrowers pushing through purchases ahead of the end of Stamp Duty relief. Gross mortgage lending in December was 12.5% higher than December 2008. The banks' annual growth rate of 4.6% in net mortgage lending substantially exceeds growth of 0.9% for November across the market as a whole. Overall approvals in 2009 were 980,000, 27% lower than 2008 and the lowest since the BBA started recording the figures in 1997. David Dooks, BBA statistics director, says: "The high street banks continued to lend substantial amounts in the weaker mortgage marke...