High-street banks' mortgage lending increases
www.moneynews.co.uk > Mortgages > High-street banks' mortgage lending increases
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Money News |
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High-street banks' mortgage lending increases
Tue 24th Mar 2009
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Total mortgage lending by high street banks rose by £3.9 billion compared to January and the number of new mortgage approvals granted also increased, from 24,278 two months ago to 28,179 in February.
The total amounts deposit by individuals in UK banks fell however, by £0.1 billion.
David Dooks, director of statistics for the BBA, added: "Remortgaging activity has slowed in recent months, while higher numbers of loans approved for house purchase simply reflect the banks' greater market share."
In recent months, the UK's fiscal authorities, lead by the treasury and the Bank of England, have introduced a number of policies aimed at increasing the amount of mortgage lending by banks to individuals.
These have included dropping the base rate of interest to 0.5 per cent.
Click here for more mortgage news
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