30
Nov
Mortgage lending stays static over three months
People looking to secure their finance for houses for sale in the
UK are likely to be relieved to hear that mortgage lending has
remained relatively level over recent months.
According to the Building Societies Association (BSA), October 2010
saw gross mortgage lending reach £2 billion.
It stated that this is "broadly similar" to the average recorded
over the preceding three months.
Director-general of the BSA Adrian Coles added that as well as the
total amount lent to homebuyers remaining similar, there has also
been a growth in mortgage approvals at mutuals over recent
quarters.
He stated that this is an "encouraging trend", adding: "This may
lead to some recovery in mutuals' market share over the next few
months."
In October, the BSA reported that mortgage lending by mutuals had
grown by ten per cent between August and September, while homeloan
approvals rose from £1.8 million to £1.9 million over the
month.