BSA notes mortgage trend among mutuals
www.moneynews.co.uk > Mortgages > BSA notes mortgage trend among mutuals
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BSA notes mortgage trend among mutuals
Thu 3rd Mar 2011
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A report from the Building Societies Association (BSA) showed that gross mortgage lending was £1.4 billion in the first month of 2011, compared with the £1 billion that was handed out at the start of the previous year.
This figure marks a 38 per cent overall increase in the amount given to borrowers by mutuals.
Adrian Coles, director general of the BSA, said: "On a seasonally adjusted basis, mutuals' mortgage lending and approvals figures for January were broadly similar to the averages over the preceding six months."
Recently, the BSA reiterated its belief that the difficulties being faced by first-time buyers in the housing market are not solely down to restricted lending, with volatile house prices and concerns over job security also having an impact on the confidence of people looking to step on the property ladder.
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