BBA: Mortgage lending falling
www.moneynews.co.uk > Mortgages > BBA: Mortgage lending falling
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Money News |
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BBA: Mortgage lending falling
Tue 28th Apr 2009
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According to the banking body, UK banks lent a total of £9.2 billion in gross mortgage lending in February, a figure which had fallen to £8.9 billion last month.
The association also revealed that the total amount approved for house purchase loans had also fallen recently to £3.3 billion in March from £3.5 billion in February. House purchase loans have fallen by 39.3 per cent over the course of the 12 months until March.
David Dooks, statistics director for the BBA, said: "The banks' figures also show it would be unrealistic to expect the mortgage market to recover in a steady and consistent way in the current economic environment."
Alistair Darling recently introduced several measures aimed at making house purchases cheaper, including an extension of the stamp tax holiday.
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