According to the British Bankers Association's (BBA) latest figures, total net mortgage lending to i...
According to the British Bankers Association’s (BBA) latest figures, total net mortgage lending to individuals increased in March by £4.08bn. This is a new peak, with January’s £4.04bn being the previous high. Lending to property companies increased by £968m in March. Borrowing in this sector has gone up by 30% in the last year, reflecting the strength of property development and the buying and selling of real estate.
Ian Mullen, BBA chief executive, said: ‘Mortgage lending reached a new high in March, compensating for weaker consumer credit, it might be that this reflects credit choices available ‘ secured borrowing may be cheaper than a personal loan, for example.’
